Bankruptcy court approves Future Supply Chain Solutions’ acquisition by Reliance Retail

Core Insights - The bankruptcy court in Mumbai approved Reliance Retail Ventures Ltd's (RRVL) resolution plan for Future Supply Chain Solutions Ltd (FSCSL), allowing the logistics arm of the Future Group to join Reliance [6] - The revival plan received 91.71% approval from the secured lenders and proposes a payment of Rs 170 crore for the acquisition [6][1] - The total admitted claims against FSCSL amount to Rs 885 crore, with major creditors including Azim Premji Trust, IDFC First Bank, and JC Flowers Asset Reconstruction claiming over Rs 485 crore [6][1] Company Overview - Future Supply Chain Solutions is India's first fully integrated and IT-enabled end-to-end supply chain and logistics company, specializing in modern warehousing, express logistics, cold chain, and e-commerce logistics [6][5] - The company provides third-party logistics support across various sectors, including food and beverages, lifestyle, consumer electronics, automotive, engineering, home and furniture, healthcare, general merchandise, and e-commerce [5][6] Bidding Process - Out of seven bidders, two submitted resolution plans, but one was withdrawn, leaving RRVL as the sole remaining bidder [2][6] - Other interested bidders included Tatkal Loan India, One City Infrastructure, Globe Ecologistics, Shanti G.D. Ispat & Power, Camions Logistics Solutions, and Sugna Metals [4][6] Bankruptcy Context - FSCSL was admitted under the Corporate Insolvency Resolution Process (CIRP) in January 2023 after defaulting on dues of approximately Rs 7.26 crore [4][6]