Tuesday, 28 June, 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

J.P.Singh, joint secretary (Pakistan, Afghanistan and Iran Division), MEA, meets Taliban's interim foreign minister Amir Khan Mottaki | Photo credit: Twitter/@QaharBalkhi

Hard-nosed, practical—why India has revived relations with Kabul, and why Taliban is welcoming

By protecting the Indian embassy in Kabul for the last ten months, the Taliban is sending a message to its neighbours and the rest of the world.

Central banks in Asia spend billions to bolster weakening currencies against rising US dollar

Learning from the 1997 Asian financial crisis, central banks have been accumulating dollars to help defend their currencies during periods of wild market swings.

Defence

The Indian Air Force logo | Commons

Almost 4,000 enrol for IAF’s Agnipath recruitment scheme on day 1 of online registrations

These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.
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