Tuesday, Jul 05, 2022
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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 (FCPL).

13 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)...

08 June 2022

Fidelity’s Digital Assets Arm To Increase Manpower For Crypto Clients, Bitcoin Rises

The price of Bitcoin rose by 0.51 per cent in the last 24 hours, while Ethereum was down by 0.53 per cent.

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...

30 May 2022

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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14 May 2022
Future Retail's Chief Financial Officer C P Toshniwal Resigns

Future Retail's Chief Financial Officer C P Toshniwal Resigns

Toshniwal's resignation is the recent addition to the string of resignations that started after the Rs 24,713-crore deal was called off last month by the...


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.


05 May 2022
Future Retail MD Rakesh Biyani Steps Down, Company Secretary Resigns

Future Retail MD Rakesh Biyani Steps Down, Company Secretary Resigns

The Future Group flagship firm is facing an insolvency petition by its lenders before the National Company Law Tribunal


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...


25 April 2022
Future Group Shares Tank Up To 20% After Reliance Calls Off Deal

Future Group Shares Tank Up To 20% After Reliance Calls Off Deal

The stock of Future Consumer plummeted 19.91 per cent, Future Supply Chain Solutions slipped 19.96 per cent, Future Lifestyle Fashions 19.89 per cent, Future...


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...


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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...


06 April 2022
Supreme Court Closes Amazon-Future Dispute Case As Arbitration To Resume Before SIAC: Report

Supreme Court Closes Amazon-Future Dispute Case As Arbitration To Resume Before SIAC: Report

According to the report, the apex court was previously informed that the two parties had agreed to resume the arbitration proceedings in SIAC.


01 April 2022
Future Retail Ltd Defaults On Repayment Of Rs 5,322 Crore Debt

Future Retail Ltd Defaults On Repayment Of Rs 5,322 Crore Debt

Last year, FRL had entered into a One Time Restructuring (OTR) scheme for COVID-hit companies with a consortium of banks and was under obligation to raise Rs...


30 March 2022
Fire At Delhi’s Ghazipur Dumping Yard Doused After Over 50 Hours

Fire At Delhi’s Ghazipur Dumping Yard Doused After Over 50 Hours

The fire broke out at the dumping yard on Monday, leading to a huge cloud of smoke enveloping the region and neighbouring areas.


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...


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