April 26, 2022 5:52 pm
The unequal treatment led to the move last week, when the local banks rebuffed the $3.2 billion offer from Ambani’s conglomerate. Reliance Industries Ltd. announced the purchase plan in August 2020 but struggled to complete the transaction in the face of legal challenges mounted by Amazon.com Inc., which argued it had the first right of refusal contractually.
April 25, 2022 12:40 pm
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 Enterprises tumbled 9.87 per cent and Future Retail fell 4.96 per cent on the BSE.
April 25, 2022 5:21 am
RIL has said the takeover proposal can’t be implemented as secured creditors rejected the plan
April 24, 2022 9:47 am
Some leading banks were not in favour of the proposal stating there’s ambiguity on debt recovery. “If top banks are opposing the sale to RIL, the deal is likely to fall through. The next option is to take the IBC route,” said a banking source.
April 24, 2022 7:14 am
On Friday, secured lenders rejected Future Retail Limited’s (FRL) Rs 24,713 crore deal to sell its assets to Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL.
April 22, 2022 9:50 am
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April 06, 2022 12:40 pm
A bench comprising Chief Justice N V Ramana and Justices Krishna Murari and Hima Kohli took note of the consent of US e-commerce major Amazon and Future group over the resumption of arbitral proceedings before the Singapore International Arbitration Centre (SIAC).
April 01, 2022 2:57 pm
A bench headed by Chief Justice N V Ramana, which has now posted the plea of US e-commerce major for further hearing on April 4, said the landlords of the FRL's shops are not before it and the question is if such an order restraining the alienation of assets till conclusion of arbitration can be passed.
March 17, 2022 12:26 am
In a regulatory filing, FRL said its board has taken strong objection to such an action by Reliance Group and has put it on notice to reconsider all other actions initiated over the last few days.
March 07, 2022 12:06 am
Prospective customers were turned back by security, disappointed at the closed state of the store that still carries the signage of Future’s biggest brand, Big Bazaar, but which will likely soon be rebranded as a Reliance outlet.