RBL Bank sells its Rs 105 Crore loan to Future Corporate Resources Pvt Ltd (FCRPL), which holds a massive stake in Future Coupon. FCRPL is among the 25 corporate loans for which RBL is aiming offers. The decision to sell it was due to a delay in the two-stage merger of 19 Future Group firms with Future Enterprises, followed by a slump sale to Reliance Group entities.

RBL is the first private bank to invite offers from Future Group. More than a dozen lenders have a cumulative loan disclosure of over Rs 25K Crores to firms of the Kishore Biyani-promoted group. “The date to close the deal has been extended to March 31, 2022, and still there is no assurance of the timelines,” a media report said.

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The delay is due to a legal argument between Future and Amazon, which is trying to block the proposed deal with Reliance Industries. Amazon claims that its agreement with Future Coupons stops Future Retail from selling its assets to some parties, including Reliance. The Supreme Court will hear the same matter by January 11.