Sebi order won’t hit RIL deal, says Future

NEW DELHI: Future Retail has said that SEBI's oneyear ban on its Chair Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance.

Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd plan to appeal against the order passed by SEBI.

"the ... Order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this Order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said.

in a late-night regulatory filing on Wednesday.

In a separate statement, Future Corporate Resources Pvt Ltd (FCRPL) said the SEBI order "has taken care to exclude dealings in securities under any impending Scheme of Arrangement".

"Therefore, the SEBI would not pose a hurdle to