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Future Retail

sidshakil
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104 Messages

Dear Sir, Ref. : Intimation under Reg 30(7) and other applicable provisions of the SEBI (LODR) Regulations, 2015 Sub.: Update on the Composite Scheme of Arrangement We refer to our communication dated 29th August, 2020 with regard to approval of the Composite Scheme of Arrangement by the Board of Directors involving (i) merger of the Company and Future Consumer Limited (FCL) Future Lifestyle Fashions Limited (FLFL) Future Market Networks Limited (FMNL) Future Supply Chain Solutions Limited (FSCSL) and Futurebazaar India Limited (FIL) and its subsidiaries ( Transferor Companies ) with Future Enterprises Limited (FEL) ( Transferee Company ) (hereinafter collectively referred to as Future Group Entities ) (ii) transfer through slump sale as a going concern of logistics and warehousing undertaking and the retail and wholesale undertaking of the Future Group entities to Reliance Retail Ventures Limited ( RRVL ) and Reliance Retail and Fashion Lifestyle Limited ( RRVL WOS ) and (iii) preferential issue of equity shares and warrants by FEL to RRVL WOS Pursuant to the above referred regulations, we wish to inform that application collectively made by Reliance Retail Ventures Limited ( RRVL ) and Reliance Retail and Fashion Lifestyle Limited ( RRVL WOS ) to Competition Commission of India ( CCI ) under Section 6(2) of the Competition Act, 2002 ( Act ), for acquisition of the logistics and warehousing undertaking and the retail and wholesale undertaking of the Future Group Entities by RRVL and RRVL WOS respectively (proposed combination), has been approved by CCI in its meeting held on 20th November 2020, under Section 31(1) of the Competition Act, 2002. The above is for your information and record, please. Thanking you, Yours faithfully, For Future Retail Limited

3.27 AM Nov 22nd
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