The RIL transaction considers the interest of Future Group’s stakeholders, including supply partners, vendors, lenders, creditors, and employees, Biyani said in his letter to supply partners.

“The transaction includes a specific amount that has been set aside to pay all the accounted dues owed to suppliers and creditors in the business,” he said. “We would like to assure you from our side that every business partner will be paid in full and everybody is assured of getting their dues. This was among the objectives of entering this transaction and we are committed to it. The transaction also ensures full continuity of all the businesses,” he said in his letter.

On Saturday, Biyani sold his retail empire built over three decades to RIL for ₹24,713 crore because of mounting debt and a ratings downgrade. Post the deal, Mukesh Ambani’s Reliance Retail Ventures (RRVL) will hold a 13.14% stake in Biyani’s Future Enterprises Ltd (FEL) and will assume debt of ₹12,500 crore, Mint reported earlier. Meanwhile, the groups’s marquee stores such as Big Bazaar, Central, Easyday and Nilgiris will continue functioning.

However, it becomes pertinent for the firm to clear dues, as several fast-moving consumer goods (FMCG) companies have been tightening supplies to the company over fears of outstanding dues, leading to a shortage of inventory.

“In a slump sale what happens is that the assets and liabilities for a lump sum value are getting transferred, invested and assumed by the relevant Reliance entity. As part of that process, they will assume the relevant liability, trade payables and thus, lenders and suppliers will have to wait for that process,” said a person in the know who spoke on condition of anonymity.

On Monday, a group of FMCG distributors wrote to Biyani seeking clearance of dues. “Outstanding of the distributor is ranging from 45 to 180 days and the amount is in hundreds of crore, which we believe to be at rust as there is news regarding the discount on the credit outstanding as the margin of distributors are very negligible and cannot sustain the loss,” the All India Consumer Products Distribution Federation said in its letter.

Biyani said the impact of the lockdown and the subsequent dip in footfall led the company to lose potential business worth ₹6,500 crore. “Our primary objective is to ensure that we can repay in full everyone we owed money to. We also want the business to continue to operate in the days and years ahead,” Biyani said.

Shuchi Bansal contributed to this story.