Some of the lenders to Kishore Biyani such as PE funds, Apollo Global Management, AION and Blackstone, along with RBL Bank and Axis Finance have recently invoked pledges to take equity stakes in Future Group firms while a few equity investors, such as Norges Bank have downsized their holdings.In the past week, several lenders have invoked pledges and taken control of the large chunks of Biyani's shares in listed group companies including Future Lifestyle Fashions Ltd. (FLFL), Future Supply Chain Ltd. (FSC), Future Consumer (FCL) and even flagship Future Retail Ltd. (FRL), according to multiple sources and regulatory filings. Some of these lenders are said to be unhappy about the terms of the proposed Rs. 25000 Crore merger that Biyani, founder and CEO of Future Group, inked with Mukesh Ambani's Reliance Retail end August.