Future postpones board meeting yet again

Mumbai | Updated on August 28, 2020

Kishore Biyani-led Future Enterprises Ltd, which was all set to finalise the sale of its retail business to Mukesh Ambani-led Reliance Industries Ltd’s retail arm, has postponed its board meeting yet again.

The board meeting, which was slated to be held on Saturday, has been adjourned to Monday. The company, which was to take on record its results also, cited non-completion of the audit process of financial results for the adjournment, Future Enterprises said in a regulatory filing.

The audited financial results for the quarter and year ended March 31, 2020, stands adjourned due to non-completion of audit process of financial results, it added.

This is the second time the company has rescheduled its board meeting, which among others, was to approve the deal with RIL.

Earlier, Future Enterprises rescheduled its board meeting to be held on August 22 to August 28.

According to earlier media reports, the deal that has been in the works for months now, is valued at about Rs 29,000-30,000 crore.

Published on August 28, 2020

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