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Future Group Promoter Default Scare and Its Exposure To Mutual Funds

Future-Default.jpg

Kishore Biyani's company, a holding company of the Future Group, has recently defaulted on a loan payment. The Future group owns the well-known retail chains Big Bazaar and Nilgiris, and has been the pioneer of the organised retail chains in India.

Kishore Biyani started with a trouser brand "Pantaloons" in 1987 and expanded into multiple arms from supply-chain management to retail and wholesale stores. Future Retail is their flagship firm. Kishore Biyani owns this web of companies of Future group through four major holding companies:

Future Capital Investment Private Limited (FCIPL), Central Departmental . . .

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