The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Amazon’s plea challenging the decision of regulator CCI to suspend approval for the e-commerce major’s deal with Future Coupons...
Shareholders of six Future units vote on Reliance Retail Deal
The shareholders’ meeting of six listed entities of Future Group to approve a scheme to sell their assets on a slump sale basis to Reliance Retail submitted their votes on Wednesday. The result will be known after...
Future proposes to transfer 45% of its debt to Reliance
Future Group has proposed that 45% of its debt will be transferred to the books of Reliance on the sale of assets but lenders are jittery since they haven’t yet received any assurance from the hypermarket operator on...
Future lenders await RIL’s debt distribution plan
With less than a week left to vote on the scheme, creditors of Future Retail Ltd have not yet received a plan spelling out the distribution of the proceeds from the proposed slump sale of the group’s assets to Reliance...
Bank of India moves NCLT against Future Retail, files insolvency plea
Bank of India has filed an insolvency petition against Future Retail Ltd (FRL) at the bankruptcy court for non-payment of dues, the retailer said in a notice issued to stock exchanges on Thursday evening. The company...
Israeli retailer Shufersal rejects Delek Israel merger offer
The board of Israeli retailer Shufersal rejected an offer to merge with Delek Israel, with the company saying the proposal did not comply with the strategy of Shufersal and its shareholders. Last week, Delek Israel...
Amazon Warns Future Against Holding Meetings To Approve Assets Sale To Reliance
Amazon has warned Future Retail Ltd (FRL) against holding meetings of its shareholders and creditors next week to approve the sale of its retail assets to billionaire Mukesh Ambani’s Reliance Retail. In a 16-page...
Subsidiary of Mexico’s Femsa agrees to acquire U.S. distributor Sigma Supply
Mexican bottler and retailer FEMSA announced its U.S. subsidiary Envoy Solutions reached an agreement to acquire the distributor Sigma Supply for an undisclosed amount. FEMSA said the acquisition is “another...
Future Retail lenders select Deloitte backed interim resolution professional to take the company to bankruptcy court
Future Retail’s lenders on Thursday evening selected Vijaykumar Iyer, backed by Deloitte India, as the interim resolution professional for referring the Kishore Biyani-promoted hypermarket chain to the bankruptcy court...
Amazon, Future dispute: SC lets arbitration resume over FRL merger
The Supreme Court on Wednesday ordered resumption of arbitral proceedings before the SIAC tribunal over Future Retail’s merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd. A bench comprising Chief...
Amazon terms Reliance takeover of Future Retail stores as ‘sham transaction’
Amazon on Tuesday called the February takeover of 835 of Future Retail (FRL) stores by Reliance a “sham transaction.” “There was a mysterious switch of the leases,” Gopal Subramanium, the senior...
Supreme Court asks Delhi HC bench to hear Amazon plea
The Supreme Court on Monday asked the Delhi High Court judge who is hearing a bunch of petitions and counterpetitions filed by Amazon and the Future Group against each other, to also hear the US ecommerce firm’s...
