Rahul Garg Resigns from the Future Retail Board.

On Tuesday, in a regulatory filing, the debt-ridden company Future Retail Ltd. informed that  Rahul Garg has resigned from his post of director of the company. The company said: "Rahul Garg, Non-Executive Director has resigned from the Board of Directors and other committees of the Board with effect from 14th March 2022."  The Company further added that the Company appreciates his valuable contribution and support made during his tenure as Director of the Company. Future retail is one of the biggest companies in India. It operates brands such as Big Bazaar, Koryo, Foodhall, and Easyday. Future Retail is a part of the 19 Future group companies. However, due to increasing debts, the company would be transferred to Reliance Retail as part of the Rs 24,713 crore deal announced in August 2020. On the other hand, this transfer is not going to be as easy as it sounds. The deal is challenged by e-commerce major amazon and is under litigation at various forums including Supreme Court, Delhi High Court, and Singapore International Arbitration Centre.