Monday, Jul 04, 2022
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Sebi Sends Rs 5 Lakh Notice To Future Enterprises In Disclosure Lapses Case

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
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...

13 June 2022

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.

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)...

08 June 2022

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...

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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.


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.


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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.


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...


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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...


30 March 2022
Future Group Defaults On Loan Repayment Of Rs 19.16 Crore Again; Second Time This Month

Future Group Defaults On Loan Repayment Of Rs 19.16 Crore Again; Second Time This Month

FEL said it had a review period of 30 days from the due date in terms of the RBI circular dated August 6, 2020, and further in terms of the provision of the...


20 March 2022
Future Group Firms To Convene Shareholder, Creditors Meeting In April

Future Group Firms To Convene Shareholder, Creditors Meeting In April

Listed entities, including Future Enterprises Ltd, Future Retail Ltd, Future Consumer Ltd and Future Supply Chain, informed exchanges about dates and other...


17 March 2022
Amazon Seeks SC Order For Resumption Of Arbitration & Preservation Of FRL Assets

Amazon Seeks SC Order For Resumption Of Arbitration & Preservation Of FRL Assets

Amazon and Future group are engaged in multi-forum litigations on the issue of FRL’s merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd...


16 March 2022
Talks With Future Group Failed: Amazon Tells SC

Talks With Future Group Failed: Amazon Tells SC

A bench headed by Chief Justice N V Ramana, on March 3, had acceded to Amazon's request and granted 10 days to it for exploring the possibility of resolving...


15 March 2022
Amazon Accuses Future Retail Of Fraud In Newspaper Advertisements

Amazon Accuses Future Retail Of Fraud In Newspaper Advertisements

Amazon has been engaged in several legal tussles with Future Retail and Reliance Group. The company has also been contesting Future Retail’s $3.8 billion...


10 March 2022
Reliance Terminates Lease For 835 Stores: Future Retail

Reliance Terminates Lease For 835 Stores: Future Retail

In stock exchange filings, the Kishore Biyani-led Future Group firms said they have been served notices to terminate the lease of 835 Future Retail stores and...


26 February 2022
Reliance Takes Control Of Future Retail Stores, Offers Jobs To Employees

Reliance Takes Control Of Future Retail Stores, Offers Jobs To Employees

Reliance Retail has started to take possession of the premises in which Future Retail is operating its stores such as Big Bazaar and replaced them with its...


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