Singapore court halts Future-RIL retail deal
4 years, 1 month ago

Singapore court halts Future-RIL retail deal

Hindustan Times  

Amazon.com Inc. on Sunday secured interim relief in a Singapore arbitration court, stalling partner Future Group’s plan to sell its retail and wholesale assets to a unit of rival Reliance Industries Ltd for ₹24,713 crore. The e-commerce giant claimed that Future Group had violated an investment contract when it agreed to sell its retail assets to Reliance Retail Ventures Ltd. A single-judge bench of VK Rajah SC barred Future Retail from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party. “RRVL has entered into the transaction for acquisition of assets and business of Future Retail Ltd under proper legal advice and the rights and obligations are fully enforceable under Indian law,” Reliance Retail said in a statement late Sunday. In a deal announced on August 29, RRVL said it would acquire retail, wholesale, logistics and warehousing businesses of the Future Group.

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History of this topic

RIL among 16 interested in Future Retail’s IBC assets
2 years, 1 month ago

RIL among 16 interested in Future Retail’s IBC assets

Live Mint  

MUMBAI : Mukesh Ambani’s Reliance Industries is among 16 suitors who have submitted expressions of interest to take over Future Retail Ltd, a person aware of the development said. On 29 August 2020, Reliance Industries announced a ₹24,713-crore deal that involved the proposed sale of Future Group’s retail, wholesale, logistics and warehousing businesses. According to the invitation for EoIs, Future …

NCLAT Endorses CCI's Penalty Order Against Amazon: A Setback For Amazon And A Leap In Jurisprudence
2 years, 5 months ago

NCLAT Endorses CCI's Penalty Order Against Amazon: A Setback For Amazon And A Leap In Jurisprudence

Live Law  

The National Company Law Appellate Tribunal vide its order dated June 13, 2022, has upheld the order of the Competition Commission of India against Amazon, where the CCI penalized the latter for giving false and misleading information in the notice and suppressing material facts relating to the actual scope and purpose of the acquisition of Future group companies. Subsequently, the …

Amazon's petition against Future rejected; directs to deposit over Rs 200 cr penalty in 45 days
2 years, 6 months ago

Amazon's petition against Future rejected; directs to deposit over Rs 200 cr penalty in 45 days

Firstpost  

In December last year, the Competition Commission of India suspended the approval given by it in 2019, for Amazon’s deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd New Delhi: The National Company Law Appellate Tribunal on Monday rejected Amazon’s plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce …

NCLT Mumbai Grants Time To Future Retail Ltd. To File Reply In Insolvency Plea
2 years, 7 months ago

NCLT Mumbai Grants Time To Future Retail Ltd. To File Reply In Insolvency Plea

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Justice P.N. Deshmukh and Shri Shyam Babu Gautam, while hearing a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, titled Bank of India v Future Retail Ltd., has granted time to Future Retail Ltd. for filing a reply to the petition. Future Retail Ltd. is the flagship …

Future Group Colluding With Reliance To Handover Stores, Amazon Alleges Before Supreme Court
2 years, 8 months ago

Future Group Colluding With Reliance To Handover Stores, Amazon Alleges Before Supreme Court

Live Law  

Seeking orders to restrain Future Retail Limited from alienating its assets, e-commerce giant Amazon submitted before the Supreme Court that the FRL was acting in collusion with Reliance so to let the latter take over the former's stores in violation of the injunction orders. Amazon's Notice: Amazon has also issued a public notice alleging that Future Group is on the …

Banks to take Future to debt recovery tribunal
2 years, 9 months ago

Banks to take Future to debt recovery tribunal

Live Mint  

MUMBAI : Lenders to Future Retail Ltd have abandoned plans to sue the company for the unapproved transfer of hundreds of its stores to Reliance Retail, two bankers aware of the plans said, adding that they will enforce their rights through the debt recovery tribunal and bankruptcy tribunal instead. The bankers cited above said procedures to take Future Retail to …

Amazon vs Reliance: Future of retail supremacy in India hangs in balance
2 years, 9 months ago

Amazon vs Reliance: Future of retail supremacy in India hangs in balance

India Today  

Amazon and Future group have been locked in a complex legal stand-off for more than a year now. AMAZON TO SUPREME COURT Amazon has apprehended the "disappearance” of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL’s merger deal with Reliance Retail. A …

Amazon urges SC to halt RIL takeover of FRL stores
2 years, 9 months ago

Amazon urges SC to halt RIL takeover of FRL stores

Hindustan Times  

Talks between Amazon and the Future Group aimed at resolving their long-running legal battle over the latter’s proposed $3.4 billion sale of retail assets to Reliance Industries have failed, lawyers for the companies informed the Supreme Court on Tuesday. The bench then asked Harish Salve and Mukul Rohatgi, who appeared for FRL, if the attempt by Future is to make …

'Can't Stop Reliance Taking Over Stores As We're Broke' : Future Retail Tells Supreme Court In Amazon's Case
2 years, 9 months ago

'Can't Stop Reliance Taking Over Stores As We're Broke' : Future Retail Tells Supreme Court In Amazon's Case

Live Law  

"We've been saying from day one that Amazon is driving us to our knees, they have done it, we're broke. Senior Advocate Harish Salve appearing for Future Retail Limited made the submission before a Bench comprising the Chief Justice of India NV Ramana, Justice AS Bopanna and Justice Hima Kohli. The submission came in response to the contention put forth …

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report
2 years, 9 months ago

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report

ABP News  

New Delhi: US e-commerce giant Amazon Inc plans to start criminal proceedings against its Indian partner Future Retail this week for allowing transfer of assets to Reliance Industries despite a legal prohibition, quoting sources Reuters reported on Thursday. Amazon and Future Group have been tangled in a legal impasse for over a year that has stalled the Indian firm’s $3.4-billion …

Reliance takes control of around 200 Future Retail stores, offers jobs to employees
2 years, 9 months ago

Reliance takes control of around 200 Future Retail stores, offers jobs to employees

The Hindu  

Billionaire Mukesh Ambani's Reliance Industries Ltd. has taken over the operations of at least 200 stores of Future Retail and has offered jobs to its employees after the Kishore Biyani-led group failed to make lease payments to landlords, sources said on Saturday. Reliance Retail, the retail arm of the oil-to-telecom conglomerate, had in August 2020 agreed to take over the …

Reliance Takes Charge of Future
2 years, 9 months ago

Reliance Takes Charge of Future

News 18  

Reliance Industries has stepped in to rescue Future Retail Limited, taking over the operations of its stores and offering jobs to its employees, even as the Kishore Biyani-led group is locked in a bitter legal wrangle with e-commerce major Amazon at several judicial forums over the sale of its business to the retail arm of the oil-to-telecom conglomerate. In August …

Reliance takes control of Future Retail stores, including Big Bazaar
2 years, 9 months ago

Reliance takes control of Future Retail stores, including Big Bazaar

Hindustan Times  

Billionaire Mukesh Ambani's Reliance Industries Ltd has taken over the operations of at least 200 stores of Future Retail and has offered jobs to its employees after the Kishore Biyani-led group failed to make lease payments to landlords, sources said on Saturday. Mukesh Ambani Reliance Retail, the retail arm of the oil-to-telecom conglomerate, had in August 2020 agreed to take …

Future Retail-Reliance Merger: SC Allows Future Retail To Move HC To Seek Resumption Of NCLT Proceedings
2 years, 10 months ago

Future Retail-Reliance Merger: SC Allows Future Retail To Move HC To Seek Resumption Of NCLT Proceedings

ABP News  

New Delhi: In a crucial direction from the Supreme Court, Future Retail has been allowed to move Delhi High Court to seek permission for continuation of proceedings before the National Company Law Tribunal related to the sanction for its Rs 27,513-crore deal with Reliance Retail Ventures Ltd. A bench headed by Chief Justice N.V. Ramana and comprising Justices A S …

Approach HC to go ahead with NCLT proceedings: SC to FRL
2 years, 10 months ago

Approach HC to go ahead with NCLT proceedings: SC to FRL

Hindustan Times  

The Supreme Court on Tuesday asked Future Group to approach the Delhi high court with its plea seeking continuation of proceedings before the National Company Law Tribunal to get final approval for the proposed $3.4 billion sale of its retail assets to Reliance. The top court refrained from examining the rival contentions of Future and Amazon on the aspect of …

Supreme Court issues notice to Future group on Amazon plea against Delhi HC stay
2 years, 10 months ago

Supreme Court issues notice to Future group on Amazon plea against Delhi HC stay

The Hindu  

The Supreme Court on Wednesday decided to consider a plea by e-commerce giant Amazon against a Delhi High Court stay on proceedings before a Singapore arbitral tribunal against Future group's ₹ 24,500 crore proposed deal with Reliance. The Hindu podcast | The battle between Reliance and Amazon for the Future of Indian retail A three-judge Bench led by Chief Justice …

Banks act against Future Retail for missing payments
2 years, 10 months ago

Banks act against Future Retail for missing payments

The Hindu  

Lenders to Future Retail have started classifying loans to the firm as a ‘non-performing asset’ after the retailer missed payments to the banks, they told the Supreme Court in a filing. Citing its dispute with Amazon, FRL last month challenged its lenders in the top court to avoid facing insolvency proceedings or being classified as a defaulter, after it missed …

Lenders to Future Retail call for its assets to be put up for auction
2 years, 10 months ago

Lenders to Future Retail call for its assets to be put up for auction

Live Mint  

Lenders to Future Retail, the company being fought over by Reliance Industries and Amazon.com Inc, have told India's Supreme Court that its assets should be put up for auction after it missed payments. "Let it be subjected to an open bid.This is the only solution," Rakesh Dwivedi, a lawyer acting for 30 or so of Future's lenders, told the Supreme …

'Future Retail Will Sink With 30,000 Employees If Reliance Deal Doesn't Get Through' : Future Group Lawyers To Supreme Court In Case Against Amazon
2 years, 11 months ago

'Future Retail Will Sink With 30,000 Employees If Reliance Deal Doesn't Get Through' : Future Group Lawyers To Supreme Court In Case Against Amazon

Live Law  

In the Amazon-Future case, the Future Group on Tuesday submitted before the Supreme Court that being in a financially precarious situation, Future Retail Ltd will "sink with 30,000 employees losing their jobs" if the Rs 26,000 crores deal with the Reliance doesn't go through.Both FRL and Future Coupons Pvt Ltd argued that FRL should be allowed to go forward with …

Decoding the multilayered Amazon-Future-Reliance legal drama
2 years, 11 months ago

Decoding the multilayered Amazon-Future-Reliance legal drama

Hindustan Times  

New Delhi: US-e-commerce giant Amazon and India’s Reliance Industries have been locked in a fierce battle for the future -- almost literally. The Delhi high court Future Group went to the Delhi high court against Amazon, imploring the court to restrain the US-based e-commerce major from writing to Sebi, CCI, and other regulators about SIAC’s order. While the arguments before …

Shares in Future Group firms fall as court dismisses appeal
2 years, 11 months ago

Shares in Future Group firms fall as court dismisses appeal

Al Jazeera  

Shares in Future Group companies have fallen a day after an Indian court dismissed Future Retail’s appeal to declare arbitration proceedings with now-estranged partner Amazon.com Inc as illegal. Amazon had successfully for months used the terms of its $200m investment in Future in 2019 to block the Kishore Biyani-owned company’s attempt to sell retail assets to Reliance, until the antitrust …

Amazon challenges ED probe into 2019 deal with Future Group
3 years ago

Amazon challenges ED probe into 2019 deal with Future Group

India Today  

Amazon.com Inc is set to take the Enforcement Directorate to court over an ongoing investigation related to the US e-commerce giant’s 2019 deal with Future Group. On Wednesday, Amazon approached the Delhi High Court with an appeal to quash the ED investigation related to its $200 million investment in Future Coupons Private Limited. In the court filing, Amazon has called …

Future Retail Employees Ask SC to Sell Its Retail Assets, Rule Against Amazon
3 years, 1 month ago

Future Retail Employees Ask SC to Sell Its Retail Assets, Rule Against Amazon

News 18  

Employees of India’s Future Retail have asked the Supreme Court to allow the company to sell its retail assets and rule against Amazon.com Inc in an ongoing dispute, citing risks to 27,000 jobs, according to a legal filing seen by Reuters. Future has failed to close its $3.4 billion deal to sell its retail assets to market leader Reliance Industries …

Future asks Delhi court to quash Singapore panel’s block on RIL deal
3 years, 1 month ago

Future asks Delhi court to quash Singapore panel’s block on RIL deal

Live Mint  

New Delhi: India's Future Retail has asked a Delhi court to quash a decision by a Singapore arbitration panel that has kept the $3.4 billion sale of Future's retail assets in limbo while the panel hears objections from Amazon.com Inc. Amazon has mounted legal challenges against Future's planned asset sale to market leader Reliance Industries since last year, accusing the …

Reliance Gets NCLT Permission to Seek Creditors’ Nod for Proposed Future-Retail Deal
3 years, 2 months ago

Reliance Gets NCLT Permission to Seek Creditors’ Nod for Proposed Future-Retail Deal

News 18  

The Mumbai Bench of the National Company Law Tribunal on October 18 allowed Reliance to go ahead with seeking creditors’ nod, CNBC-TV18 reported. Reliance Retail, the retail arm of oil-to-telecom conglomerate Reliance Industries, had moved the NCLT and sought permission to proceed with seeking creditors’ nod for reorganising companies in lieu of the proposed Future-Retail Deal. Last month, on September …

Future Gets NCLT Go-ahead to Conduct Shareholders Meeting for Deal with Reliance: Sources
3 years, 2 months ago

Future Gets NCLT Go-ahead to Conduct Shareholders Meeting for Deal with Reliance: Sources

News 18  

The National Company Law Tribunal on Tuesday allowed Kishore Biyani-led Future Group firms to hold meetings of its shareholders and creditors to seek approval for the sale of assets to Reliance Retail Ltd. A Mumbai-based two-member NCLT bench comprising Suchitra Kanuparthi and Chandra Bhan Singh dismissed the application filed by e-commerce major Amazon opposing the scheme of merger of the …

Future seeks urgent hearing on RIL deal
3 years, 3 months ago

Future seeks urgent hearing on RIL deal

Hindustan Times  

Future Group on Friday urged the Supreme Court to grant an urgent hearing of its appeal against a Delhi high court order which seeks to stall its $3.4 billion sale of retail assets to Mukesh Ambani’s Reliance Industries Ltd apart from attaching the assets of the Group’s chairman Kishore Biyani and other directors. Appearing for the group companies, senior advocates …

E-Tail struggle: The Amazon-Future Retail court battle intensifies
3 years, 9 months ago

E-Tail struggle: The Amazon-Future Retail court battle intensifies

India Today  

The legal battle between e-tail major Amazon and the Kishore Biyani-led Future Retail over the latter’s sale of assets to Reliance Retail has intensified. Just days after a single bench of the Delhi High Court said on March 18 that Future Retail, Future Coupons, Kishore Biyani and others had violated an emergency award by the Singapore International Arbitration Centre in …

Advantage Future Group as HC lifts stay on Reliance deal
3 years, 10 months ago

Advantage Future Group as HC lifts stay on Reliance deal

Hindustan Times  

The Delhi high court on Monday allowed Kishore Biyani’s Future Retail Ltd to pursue its planned $3.4 billion sale of retail assets to Reliance Industries Ltd, ruling that US online retailer Amazon.com Inc. had prima facie no reason to stall the deal. A bench of Chief Justice DN Patel and Justice Jyoti Singh stayed a February 2 order by a …

Amazon-Future tussle: Here's all you need to know
3 years, 10 months ago

Amazon-Future tussle: Here's all you need to know

Hindustan Times  

India's retail giant Kishore Biyani's Future Retail is stuck in a long-standing tussle with the US tech giant Amazon. Amazon has been blocking a deal worth $3.4 billion between Future Group and Reliance Retail alleging that the transaction between the two Indian majors violates the terms of its earlier contract with Future. > Amid the unprecedented challenges of Covid-19, Future …

Setback for Future Group as Delhi HC halts RIL deal
3 years, 10 months ago

Setback for Future Group as Delhi HC halts RIL deal

Hindustan Times  

The Delhi high court on Tuesday put the brakes on Future Retail Ltd’s $3.4 billion sale of its retail assets to Reliance Industries Ltd, acting on a petition by Amazon.com Inc, which has alleged that the deal was in violation of its own contract with Future. In an interim order, the court directed Future Retail to maintain status quo on …

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani
3 years, 10 months ago

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani

CNN  

CNN Business — Amazon has been handed a major legal victory in its fight to block a multibillion-dollar deal between two of India’s biggest retailers. In August 2019, Amazon invested in a Future Group entity that gave it a roughly 4.8% stake in Future Retail as of September 30 last year, according to securities filings. Amazon argued that the 2019 …

Future Retail has requested a tribunal to obtain key permission for its asset sale of $3.4 billion to Reliance Industries
3 years, 10 months ago

Future Retail has requested a tribunal to obtain key permission for its asset sale of $3.4 billion to Reliance Industries

Firstpost  

Future Retail moved an appeal to the National Company Law Tribunal requesting clearance for its arrangement with Reliance, the company’s legal representatives told the high court in Delhi. Last week, stock exchanges cleared Future’s deal with Reliance, but according to Indian law, another crucial approval is necessary from the National Company Law Tribunal. The legal battle ensuing between the companies …

HC issues notice on Amazon’s petition
3 years, 11 months ago

HC issues notice on Amazon’s petition

Live Mint  

The Delhi high court on Wednesday issued notices to Future Retail Ltd and others on Amazon.com Inc.’s appeal against a single-judge order that left it to regulators to decide on Future group’s asset sale to Reliance Industries Ltd but allowed the US retailer to oppose the deal. The court’s 21 December ruling prima facie upheld Future Retail’s board resolution approving …

Delhi high court notice to parties in Amazon case against Future-Reliance deal
3 years, 11 months ago

Delhi high court notice to parties in Amazon case against Future-Reliance deal

Live Mint  

NEW DELHI The Delhi High court on Wednesday issued notice to Future Retail and other respondents in Amazon’s appeal against the 21 December single-judge bench order that had upheld the Kishore Biyani company’s proposed merger with Reliance Retail Ventures. The single-judge benchhad prima facie held that the interim award by Singapore International Arbitration Centre in favour of Amazon was legal, …

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute
3 years, 11 months ago

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute

Live Mint  

India's Future Group expects swift regulatory approval of its $3.4 billion deal to sell its retail assets, its chief executive said, even as its warring business partner Amazon.com Inc intensifies efforts to block the deal. A New Delhi court in December dismissed Future's request to restrain Amazon's repeated attempts to get authorities to stall the deal. AMAZON PROTESTS The outcome …

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand
4 years, 1 month ago

Post-CCI nod, Reliance Industries, Future Group stocks see strong demand

Live Mint  

Shares of Reliance Industries jumped up to 4 per cent on Monday after the Competition Commission approved the company's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. Besides, Future Retail zoomed 9.95 per cent to ₹79 -- its upper circuit limit, Future Lifestyle Fashions gained 9.99 per cent to ₹90.30 and Future Enterprises Ltd shares rose …

RIL-Future Retail deal gets CCI okay
4 years, 1 month ago

RIL-Future Retail deal gets CCI okay

Live Mint  

The Competition Commission of India on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd, in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt the ₹24,700 crore deal. “Commission approves acquisition of retail, wholesale, logistics and warehousing businesses of Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle,” CCI said …

CCI approves RIL, Future Retail deal
4 years, 1 month ago

CCI approves RIL, Future Retail deal

Hindustan Times  

The Competition Commission of India on Friday approved Future Retail Ltd’s asset sale to Reliance Industries Ltd, in a setback for Amazon.com Inc., which had approached the anti-trust watchdog to halt the ₹24,700 crore deal. The debt-ridden Future Group had agreed to sell various assets of Future Retail to Reliance for ₹24,713 crore in August. “Commission approves acquisition of retail, …

Competition Commission Clears Reliance's Rs 24,713 Crore Deal with Future Retail, Setback for Amazon
4 years, 1 month ago

Competition Commission Clears Reliance's Rs 24,713 Crore Deal with Future Retail, Setback for Amazon

News 18  

The Competition Commission has approved Reliance’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. In a tweet on Friday, the regulator said it has approved “acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”. They are Future Enterprises, Future Consumer Ltd, Future …

Amazon-Future Deal: Possible Case of Tail Wagging the Dog
4 years, 1 month ago

Amazon-Future Deal: Possible Case of Tail Wagging the Dog

News 18  

A controversial deal made by Amazon with an arm of Future group in August last year has put the US e-commerce giant at odds with both Future group founder Kishore Biyani and Reliance Retail, which acquired the assets of the troubled retailer in August this year. Here is how Amazon is trying to accomplish this feat: On August 12, 2019, …

Amazon Not Shareholder, No Say in Company Affairs: Future Retail Tells Delhi HC
4 years, 1 month ago

Amazon Not Shareholder, No Say in Company Affairs: Future Retail Tells Delhi HC

News 18  

Kishore Biyani-led Future Retail Ltd Thursday told the Delhi High Court that Amazon was not its shareholder and has no say in its affairs and the interim order passed by the Singapore International Arbitration Centre was of no value. The court had on November 10 sought response of Amazon on FRL's plea alleging that the e-commerce major was interfering in …

Amazon Accuses Future of Insider Trading as it Seeks to Block Reliance Deal
4 years, 1 month ago

Amazon Accuses Future of Insider Trading as it Seeks to Block Reliance Deal

News 18  

Amazon.com Inc has asked India's market regulator to investigate Future Retail Ltd for insider trading, a letter seen by Reuters showed, as it seeks to prevent its business partner from becoming part of rival Reliance's empire. The US giant has been pressing the Securities and Exchange Board of India to review Reliance's August deal to buy retail, logistics and other …

Why Amazon and Reliance are fighting for Future Retail in India
4 years, 1 month ago

Why Amazon and Reliance are fighting for Future Retail in India

CNN  

Hong Kong CNN Business — Two of the world’s richest men are duking it out over a brick-and-mortar retail chain on the verge of default. Amazon, the Seattle-based e-commerce firm owned by Jeff Bezos, is fighting a $3.3 billion deal struck between Mukesh Ambani’s Reliance Industries and the Indian retail conglomerate Future Group. Fitch Ratings downgraded Future Retail’s rating two …

Amazon vs Reliance: Why Are They at War Over Future Retail Deal?
4 years, 1 month ago

Amazon vs Reliance: Why Are They at War Over Future Retail Deal?

The Quint  

And now we are back full circle, to FRL and RRVL’s statements about how the deal will proceed. FRL said it expected to continue with the deal “unhindered” and that the Emergency Arbitrator’s order would have to be tested in terms of jurisdiction and legality. FRL’s main argument against Amazon’s arbitration proceedings is this latter point, that FRL itself was …

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance
4 years, 1 month ago

Amazon set for face-off with Mukesh Ambani’s RIL for India retail dominance

Live Mint  

Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd.’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Reliance intends to purchase Future Retail’s assets “without any delay,” the conglomerate’s unit said in a statement late Sunday, after …

RIL, Future Group stocks under pressure after interim relief to Amazon
4 years, 1 month ago

RIL, Future Group stocks under pressure after interim relief to Amazon

Live Mint  

MUMBAI: Shares of Reliance Industries Ltd and Future Group stocks slumped on Monday after Amazon received a favourable ruling in Singapore arbitration court with regard to the Future-RIL deal. On Sunday, US retail giant Amazon secured a major relief against the proposed ₹24,713-crore combination of Reliance Retail Ventures Ltd and Future Group’s retail and wholesale business when a Singapore arbitration …

Future Group Hints it May Challenge Arbitration Award Putting RIL Deal on Hold
4 years, 1 month ago

Future Group Hints it May Challenge Arbitration Award Putting RIL Deal on Hold

News 18  

Kishore Biyani-led Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums, to ensure that its Rs 24,713 crore deal proceeds unhindered and without any delay. Amazon.com Inc on Sunday won an interim award against its partner Future Group selling retail business to Reliance Industries Ltd for Rs 24,713 …

Amazon gets interim relief as Singapore arbitration court pauses Future-RIL deal
4 years, 1 month ago

Amazon gets interim relief as Singapore arbitration court pauses Future-RIL deal

Live Mint  

Amazon.com Inc. on Sunday secured interim relief in a Singapore arbitration court, stalling partner Future Group’s plan to sell its retail and wholesale assets to a unit of rival Reliance Industries Ltd for ₹24,713 crore.  Singapore arbitration tribunal order pauses Future deal with RIL The arbitration ruling gives Amazon a breather as a Future-Reliance combine may pose serious competition …

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