In a letter issued by SEBI it revealed that it has approved the deal between Future Group and Reliance Industries. Earlier, the deal was a dead end cause of Amazon filling a law suit against the Future group for not fulfilling the prior commitments made towards them when it acquired a stake in the company.
After various request made by Future group CEO to settle the case and let the deal go head so the company can pay its employees and get rid of its loans but it refrained to do anything until the court orders.
Now that the SEBI has granted the approval for the deal the good days lies ahead for the company and all thanks to the deal with Reliance Retail.