What happened to Future Group Kishore Biyani?

COVID 19 pandemic: The pandemic led to lock downs and mounting losses for future group. There was no chance to recover from here. 5. NCLT Admittance for Liquidation: The National Company Law Tribunal (NCLT) admitted Future Retail for liquidation due to the absence of a viable revival plan.

Why did Future Group fail?

Group's wrong choices of investments and tremendous debt dependency led court to send it to bankruptcy. In its investigation, Securities and Exchange Board of India (SEBI) found that the Biyanis' opened a trading account for an entity named Future Corporate Resources.

Who is CEO of Future Group?

Kishore Biyani is the founder and Group CEO of Future Group. Widely credited as the pioneer of modern retail industry in India, Kishore Biyani is a mentor and role model for many Indian entrepreneurs and a thought leader in Indian business.

Will the Future Group survive?

NEW DELHI: Kishore Biyani's debt-laden Future Group can survive on its own with the help of banks and lenders, albeit at a reduced scale if Amazon wins the legal battle against the Big Bazaar parent, an independent director on the board of Future Retail (FRL) said on Tuesday.

What is the debt of Kishore Biyani?

Future Group promoter Kishore Biyani has reportedly settled dues worth Rs 571 crore to lenders of Bansi Mall Management Company by making a one-time settlement of Rs 476 crore.

Future at stake: Challenges and the options left for Kishore Biyani

Will Reliance buy Future Retail?

In the end, Reliance Retail acquired the Future Group in response to the interim order. After knowing its current position in the Pre-IPO market, Reliance Retail intends to strengthen its retail network by acquiring the assets, liability, retail stores, and stakes in a consumer business.

What is the net worth of Kishore Biyani?

Kishore Biyani is an Indian businessman who is the Founder & CEO of Future Group, one of India's biggest brick-and-mortar retailers. He is also the founder of retail businesses such as Pantaloon Retail and Big Bazaar. According to Forbes magazine, he had a net worth of US$1.78 billion in 2019.

Will Future Retail bounce back?

If Future Retail can navigate its current challenges and seize growth opportunities, there is potential for a positive outlook in its share price. Analysts estimate that with successful debt restructuring and strategic realignment, the share price could recover to more stable levels by 2025.

How big is Future Group?

views. Future Group is one of India's leading business groups headquartered in Mumbai with over 30,000 employees. It operates over 1,000 stores across 61 cities under brands like Pantaloons, Big Bazaar, and Food Bazaar.

Who is Vijay Biyani?

Vijay Laxminarayan Biyani was the founder of Future Group, serving as Director since 1987. Current jobs include Chairman & Managing Director at Future Enterprises Ltd. since 2009, Director at PIL Industries Ltd.

What is the personal life of Kishore Biyani?

Kishore Biyani was born in August, 1961 and is married to Sangita and they have two daughters. He recently authored a book, 'It Happened In India' that captures his entrepreneurial journey and the growth of modern retailing in India.

Who is the king of retail in India?

New Delhi: Retail mogul Kishore Biyani stands as a prominent figure in Indian entrepreneurship, credited with pioneering the concept of retail supermarkets.

Why did Future sell his master's?

Future Sells Song Publishing Catalog to Influence Media Partners: 'An Artist of the Ages' The eight-figure deal includes several No. 1 songs and albums spanning Future's first 16 years as a recording artist.

Who is the father of Big Bazaar?

History. Big Bazaar was founded in 2001 by Kishore Biyani, the founder and CEO of the parent company, the Future Group.

What happened to Big Bazaar?

Reliance and Amazon's role in Big Bazaar

In 2020, it agreed to sell Big Bazaar and other retail assets to Reliance for ₹24,713 crore. However, Amazon, which had previously invested in Future Group, challenged the deal in court, leading to a drawn-out legal battle.

Who took over the Future Group?

Reliance Retail, the subsidiary of Reliance Industries Limited (RIL), is buying Kishore Biyani's Future Group in a deal of Rs 24,713 crore. With this acquisition deal, Reliance Retail is all set to expand its retail business and compete with the e-commerce giant Amazon.

What is the future of retail in 2025?

Retailers appear focused on three areas in 2025 to help create more profitable transactions while enhancing customer personalization: expanding in-house delivery services, shoppable media, and enhanced physical stores.

What will happen to Reliance Future after bonus?

Price Adjustment: Post the 1:1 bonus issue, the price of the futures contract will be adjusted downward. If the pre-bonus price was ₹2,700, the post-bonus price will be approximately halved to ₹1,350 (subject to market behaviour). Lot Size Adjustment: The lot size will double from 250 shares to 500 shares.

Is Future Group closed?

Future Retail, the flagship firm of Kishore Biyani's Future Group, which once led organised retail in India, will cease to exist as the National Company Law Tribunal (NCLT) has ordered its liquidation to pay off dues exceeding Rs 17,000 crore to lenders.

Who is the CEO of future company?

Kevin Li Ying Appointed Chief Executive Officer

Kevin joined Future over 20 years ago and has been a key contributor to the successful transformation of the company from a traditional print publisher into a leading global digital media platform of today.

Who is the owner of lifestyle?

Lifestyle International Pvt. Ltd is led by Shital Mehta, who is the managing director of the company. Landmark Group's business in India, which started with the Lifestyle stores, has now expanded to include Home Centre, Max, and Easybuy.

Is Future Group profitable?

Future Group Financials and Shareholder Returns

Future Group's major company, Future Lifestyle Fashions Ltd posted ₹2,994 crore revenue and a net loss of ₹2,549 crore in FY 2024. Its 1-year return stood at -37.50%, 3-year return at -66.70%, and 5-year return at -62.00%.

What happened to Kishore Biyani?

The fall of Kishore Biyani

After conquering the retail industry, Kishore Biyani desired to venture into every business which directly dealt with the consumer, but this proved to be downfall because his unplanned expansion resulted in mounting debt which ultimately swelled to over Rs 12000 crore.

Who is buying Future Group?

In August 2020, Future Group's listed entities including Future Retail, Future Lifestyle and Future Consumer merged into Future Enterprises Limited (FEL). Reliance Retail, a subsidiary of the umbrella Reliance Industries Limited (RIL) group then entered an agreement to buy Future Enterprises.