Future Group looks to exit all its insurance businesses
4 years, 7 months ago

Future Group looks to exit all its insurance businesses

Live Mint  

MUMBAI: Kishore Biyani-promoted debt-laden Future Group is planning to exit both its general and life insurance businesses by selling off its controlling stakes in the two JVs it has with Generali Participations Netherlands N.V. Debt-ridden Future Group has two insurance subsidiaries -- Future Generali India Insurance for general insurance business and Future Generali Life Insurance for life insurance. Under this plan, businesses of Future Generali Life could be merged with SBI Life Insurance while business of Future Generali India Insurance could be merged with SBI General Insurance. So, through this SPV, Future Enterprises indirectly holds around 25% in Future Generali Life, making Future Group's total effective holding in the insurance company 34%.

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‘Future promoters eroded ₹60,000 cr of public wealth’
1 year, 10 months ago

‘Future promoters eroded ₹60,000 cr of public wealth’

Live Mint  

Mumbai: InGovern Research Services, a proxy advisory firm, on Wednesday approached the Securities and Exchange Board of India seeking a forensic investigation of Future Group, which ran the erstwhile BigBazaar retail chain. In its letter to Sebi chief Madhabi Puri Buch, InGovern said a greater regulatory scrutiny is needed by the market regulator and the Reserve Bank of India as …

Future’s Biyani moves to simplify group structure
5 years, 2 months ago

Future’s Biyani moves to simplify group structure

Live Mint  

With Future Retail announcing its intention to acquire retail infrastructure assets from group company Future Enterprises Ltd, its billionaire promoter Kishore Biyani has taken a key step towards simplifying his group structure. The board of Future Retail, in a meeting on Saturday, agreed and approved the “acquisition of the retail infrastructure assets up to maximum limit of ₹4,000 crore of …

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