Banks get taken for a ride in FRL-Reliance deal + TruJet’s days are numbered

Lenders’ hopes of recovering their dues get hit for a six with Reliance taking control of over 900 stores + Lessors begin taking back aircraft from Hyderabad-based TruJet.

Surendar here. As you read, lenders to the Future Group seem to have finally woken up for some last-minute bargaining even as the retailer’s deal with Reliance Industries is put to the vote. My question: What were they doing till now when what looked like a daylight robbery was taking place right under their noses? Separately, another company is trying hard to survive. But where Future has a deal that could still save it, TruJet has had no such luck so far. Read on. 

Banks get short shrift in Future-Reliance deal

For nearly two years, banks and other financial lenders …

Author

T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor

surendar@mailtmc.com

Mumbai

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Prince M. Thomas

Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.

Managing Editor

prince@mailtmc.com

Mumbai

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Advait Palepu

Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.

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advait@mailtmc.com

Mumbai