Friday, 2 December, 2022
TopicFuture Retail

Topic: Future Retail

A creditor revolt scuttled Mukesh Ambani’s $3.2 billion deal with Future Retail

Debt-laden Future Retail's offshore bondholders were promised 100% payment in the rescue offer from Ambani but Indian lenders were asked to take a haircut of as much as 66%.

Mukesh Ambani scraps $3.2 billion deal with Future Group that set up clash with Jeff Bezos

Reliance’s decision to back out comes after almost two years of tortuous litigation in various courtrooms across India and Singapore that worsened the financial health of Future Group.

Too bad for Amazon, Mukesh Ambani’s Reliance has seized the future of retail in India

Ambani settled the dispute over who gets to own the assets of Future Retail not in an arbitration tribunal, or in a courtroom, but in a shopping aisle.

SC allows Future Retail to approach Delhi HC with plea for merger with Reliance Retail

The apex court bench said the high court should consider the plea of Future Retail on the issue without being influenced by the observations made in its order.

Future Retail isn’t in a position to meet Rs 3,500 crore debt deadline

Having already missed a 31 December deadline to lenders, Future has until the end of this month to come up with the money for the debt. But insiders say it won’t be able to do so.

Amazon’s legal troubles in India are a cautionary tale for prospective investors

An ordinary commercial dispute between Amazon and Future Retail founders shines a harsh light on the quality of legal and regulatory protection investors receive in India.

Delhi HC halts Amazon-Future arbitration in Singapore over Reliance deal

There is a prima facie case in favour of appellants Future Retail and Future Coupons and if a stay is not granted, it will cause an irreparable loss to them, the HC says.

Future Retail asks Delhi High Court to declare Amazon’s arbitration as ‘illegal’

A halt or termination of the arbitration case would be a setback for Amazon, which is in a race with Reliance to dominate India’s billion-plus consumer market.

Amazon alleges $1.5 billion diverted from Future Retail, battle with Reliance rages on

A probe would risk delaying the planned takeover of Future Retail by Reliance, making it harder for Mukesh Ambani to increase his retail footprint.

Why Amazon versus Ambani feud is making near-bankrupt Future Group’s board cranky

Two letters have been sent to India's competition authority by three directors of Future Retail Ltd, alleging that Amazon has misled the regulator about nature of an investment in 2019.

On Camera

YourTurn

Prannoy Roy in Abu Dhabi

You can call NDTV elitist, anglicised. But it defended democracy, gave us Ravish Kumar

In all these years of covering elections on NDTV, I do not recall a single occasion when I was asked or even hinted to say or not say something. I disagreed with Prannoy Roy off-screen and on-screen and that was never a problem.

51 cow universities, old pension scheme, jobs — what RSS affiliates want from 2023 Budget

Welfare schemes and ‘self-reliance’ figure high on Sangh organisations’ wishlists for finance minister Nirmala Sitharaman ahead of the Budget, which she will present on 1 February.

Defence

A soldier with 'Arjun', a black kite trained to down enemy drones, during the Yudh Abhyas exercise being held in Auli, Uttarakhand | Suraj Singh Bisht | ThePrint

It’s a plane, no it’s a bird! Army’s training eagles & falcons to swoop down on hostile drones

The birds are also being trained for surveillance at Remount Veterinary Corps Centre in Meerut, with cameras fitted to their heads to record videos.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.