Future Lifestyle Chairman resigns after creditors reject Reliance deal

Future Lifestyle Fashions' Chairman Shailesh Haribhakti has resigned from his position with immediate effect. Citing the "volatile, complex and unpredictable circumstances" of Future Lifestyle, Haribhakti said, "I feel constrained to act further." The development comes a day after the company's secured creditors rejected the deal to sell Future's retail assets to Reliance Industries.