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Thursday, March 28, 2024
TopicFuture Retail

Topic: Future Retail

Reliance, Adani, Jindal, UK’s WH Smith among 49 bidders for debt-ridden Future Retail

Future Retail, once India's second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans.

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.

On Camera

Profit margins in lottery industry are tiny. Here’s how Future Gaming paid for its electoral bonds

Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities. 

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.