Lenders to India's debt-ridden Future Retail submit loan claims of $2.64 bln

Future Enterprises

22/08/2022 17:38

NEW DELHI, Aug 22 (Reuters) - Lenders to India's Future
Retail Ltd  FRTL.NS  have submitted loan claims of about 210.58
billion Indian rupees ($2.64 billion) under the ongoing
insolvency process, according to a document released on the
company’s website on Monday. 
    A Mumbai court earlier this year ordered bankruptcy
proceedings against Future Retail after it defaulted on loans
with over 30 entities and its secured lenders rejected a $3.4
billion sale of its retail assets to market leader Reliance
Industries  RELI.NS   urn:newsml:reuters.com:*:nL2N2WK0N9. 
    The latest claims were filed by 33 banks including Bank of
New York Mellon  BK.N , State Bank of India  SBI.NS , HDFC Bank
 HDBK.NS  and Barclays Bank PLC.
    The loan claims by lenders could change depending on
lenders' calculations as the bankruptcy case proceeds. 
($1 = 79.8600 Indian rupees)

 (Reporting by Nupur Anand; Writing by Aftab Ahmed; Editing by
Mark Porter)
 ((Aftab.Ahmed@thomsonreuters.com; +91 99109 33884; Reuters
Messaging: twitter: @aftabahmed00))