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Future Group

Future Group

NCLT Admits Insolvency Plea Against Future Supply Chain Solution 

Besides the plea by DHL Ecommerce, FSCSL was also facing insolvency petitions filed by two other operational creditors

07 January 2023

Ambani, Adani Among 13 Bidders For Future Retail

Future Retail was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders rejected a Rs 24,713-crore takeover of its assets by Reliance amid a legal challenge by Amazon

11 November 2022

SEBI Orders Forensic Audit Of Financial Statements Of Future Retail

Chokshi & Chokshi LLP, a chartered accountant firm has been appointed as the forensic auditor concerning the consolidated financial statements of FRL and audit of the books of accounts of the company

04 August 2022

Delhi High Court

Delhi High Court Rejects Future Group’s Plea For Termination Of SIAC Arbitration Proceedings

Before this, the Delhi High Court had reserved its verdict on several pleas that had to do with this ongoing issue between Amazon and the Future Group, primarily over the Future Retail Ltd.’s deal with Reliance Retail. 

22 November 2022

Tata Power Renewable Energy To Set Up 150 MW Solar Project In Solapur

Tata Power Renewable Energy To Set Up 150 MW Solar Project In Solapur

A 150 MW solar project in Solapur, Maharashtra, has been awarded to Tata Power Renewable Energy.

09 November 2022

Future Retail Independent Director Conduct Raises Question On Corp Gov In India: Amazon

In a strongly worded letter to Future Retail's independent director on July 4, Amazon has also raised objection to an alleged attempt of Future Group to transfer its logistics and warehousing business to Reliance in...

06 July 2022

Amazon Moves Supreme Court Seeking Damages From Future Group: Report

Future Group and Amazon have been locked in a battle after the former decided to sell its Big Bazaar business to Reliance Retail

17 November 2022

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Sebi Sends Rs 5 Lakh Notice To Future Enterprises In Disclosure Lapses Case

Future Enterprises failed to disclose to the exchanges the information regarding the initiation of arbitration proceedings and also the passing of an order dated October 25, 2020, in favor of Amazon

22 June 2022

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13 June 2022
NCLAT Rejects Amazon's Plea Against CCI Order; Directs To Deposit Rs 200 Crore Penalty In 45 Days

NCLAT Rejects Amazon's Plea Against CCI Order; Directs To Deposit Rs 200 Crore Penalty In 45 Days

In December last year, CCI had suspended the approval given by it in 2019, for Amazon's deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd...


09 June 2022
Future Enterprises Defaults On Rs 1.41 Crore Interest Payment For Non-Convertible Debentures

Future Enterprises Defaults On Rs 1.41 Crore Interest Payment For Non-Convertible Debentures

In April, FEL had informed the exchanges about a default of Rs 2,835.65 crore towards its consortium of banks. Its due date was March 31, 2022.


08 June 2022
Amazon Sends Notice To Future Group Promoters To Stop Transaction With Reliance

Amazon Sends Notice To Future Group Promoters To Stop Transaction With Reliance

The notice follows reports that the Future group is in the midst of negotiations with Mukesh Dhirubhai Ambani (Reliance Industries Limited) Group (MDA Group)...


30 May 2022
Its Akin To Demon Preaching Vedas: Future Retail Directors On Amazon's Allegation Of Fraudulent Strategy

Its Akin To Demon Preaching Vedas: Future Retail Directors On Amazon's Allegation Of Fraudulent Strategy

They have said due to the "cumulative effect" of Amazon’s wrongful conduct, the lenders of FRL had rejected the Rs 24,713 crore deal with Reliance Retail and...


27 May 2022
Future Retail Denies Amazon's Allegation Of 'Fraudulent Stratagem' By Independent Directors

Future Retail Denies Amazon's Allegation Of 'Fraudulent Stratagem' By Independent Directors

Last week, Amazon had accused FRL's independent directors of facilitating a "fraudulent stratagem" of transfer of 835 stores to Reliance Retail Venture.


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13 May 2022
Ashni Biyani Resigns As MD Of Future Consumer

Ashni Biyani Resigns As MD Of Future Consumer

The company, a flagship firm of the Kishore Biyani-led Future Group, now faces an insolvency petition filed by its lenders before the National Company Law...


13 May 2022
After Biyani & Ambani, Bezos Wages War Against Bank Of India For Future Retail Deal

After Biyani & Ambani, Bezos Wages War Against Bank Of India For Future Retail Deal

NCLT will hear Amazon’s plea on June 6, while last week it had directed FRL to respond to BoI’s bankruptcy charges.  


13 May 2022
Future Retail Gets Time Till June 6 To File Reply On Insolvency Plea

Future Retail Gets Time Till June 6 To File Reply On Insolvency Plea

In April, Bank of India moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments.


28 April 2022
NCLT Gives Future Retail Time Till May 12 To File Reply On Insolvency Plea

NCLT Gives Future Retail Time Till May 12 To File Reply On Insolvency Plea

Last week, the Bank of India moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments.


25 April 2022
Future Group To Focus On Saving, Rebuilding Future Lifestyle, Future Supply Chain & Future Consumer

Future Group To Focus On Saving, Rebuilding Future Lifestyle, Future Supply Chain & Future Consumer

Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process...


24 April 2022
Future Enterprises Defaults On Rs 2,911.51 Crore Loan Repayments; Total Debt Stands At Rs 6,778.29 Crore

Future Enterprises Defaults On Rs 2,911.51 Crore Loan Repayments; Total Debt Stands At Rs 6,778.29 Crore

The company was required to pay an aggregate amount of Rs 2,911.51 crore between March 23 and March 31, 2022, to various consortium banks and lenders.


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24 April 2022
Future Lifestyle Fashions Chairperson Shailesh Haribhakti Resigns

Future Lifestyle Fashions Chairperson Shailesh Haribhakti Resigns

Haribhakti had chaired meetings of shareholders and creditors of Future Group entities that were called to vote on the Rs 24,713 crore deal with Reliance...


22 April 2022
Future Retail Secured Creditors Rejects Deal With Reliance Retail

Future Retail Secured Creditors Rejects Deal With Reliance Retail

While more than 75 per cent of shareholders and unsecured creditors supported the deal, FRL did not get the requisite 75 per cent favourable voting from...


20 April 2022
SBI Seeks Accountability Of Future Group Over Retail Stores Takeover By Reliance: Report

SBI Seeks Accountability Of Future Group Over Retail Stores Takeover By Reliance: Report

The lender groups said that Future Group knew about its stores being taken over by Mukesh Ambani's Reliance Retail and did not provide any clear answers over...


15 April 2022
Future Enterprises Defaults On Rs 1.22 Crore Interest Payment; Second Time In A Week

Future Enterprises Defaults On Rs 1.22 Crore Interest Payment; Second Time In A Week

This is the second default by the Kishore Biyani-led Future group firm this week. On April 12, FEL had informed about the default on the payment of Rs 9.10...


13 April 2022
Amazon Warns Future Retail Against Holding Meeting To Approve Deal With Reliance: Report

Amazon Warns Future Retail Against Holding Meeting To Approve Deal With Reliance: Report

FRL has scheduled the meetings on April 20 and 21 after the National Company Law Tribunal (NCLT) in February had allowed it to go ahead and convene those...


04 April 2022
SC Asks Amazon, Future To Urge Delhi HC To Hear Enforcement Pleas Of US Firm First

SC Asks Amazon, Future To Urge Delhi HC To Hear Enforcement Pleas Of US Firm First

Amazon and Future Group are engaged in multi-forum litigation on the issue of FRL's merger deal to the tune of Rs 24,500 crore with Reliance Retail Limited...


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