Page 16 - Reliance Retail

RIL Q4 consolidated net profit up 22.5%; FY22 revenue at Rs 7 trillion

Net profit goes past Rs 60,000 crore

Reliance Retail's net profit declines 4.8% to Rs 2,139 cr in March quarter

Reliance Retail said it delivered its best-ever quarterly revenues, which even surpassed the festive quarter performance despite the Omicron wave and coming out from the festive quarter

Reliance Retail pre-tax profit rises 2.43% to Rs 3,705 crore in Q4

The company's gross revenue stood at around Rs 1,99,704 crore in the last fiscal

Future Retail MD Rakesh Biyani steps down, Company Secretary resigns

The Future Group flagship firm is facing an insolvency petition by its lenders before the National Company Law Tribunal

Future Group shares continue to fall for second day; down up to 20%

With the proposed deal with Reliance falling through, investors have been dumping the shares of Future Group since Monday even as the broader market made substantial gains

Local vs foreign: How a creditor revolt scuttled RIL's Future Retail deal

FRL's offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100% payment, while local lenders were asked to take a haircut

Top headlines: Twitter 'to accept' Musk offer, CII predicts GDP growth

Russia-Ukraine war may expose 42% India firms to significant risks, global rating agency Moody's said on Monday. Read this and other important stories this evening.

Future Group to focus on saving, rebuilding firms as Reliance deal rejected

However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before NCLT

Reliance Retail drops Future Group deal after secured lenders reject it

Kishore Biyani's retail chain was to sell 19 companies for Rs 24,713 crore as part of an agreement announcement in August 2020.

Top Headlines: Omicron sub-variant akin to Delta, EVs could cut forex outgo

Business Standard brings you the top headlines at this hour

Majority of Future Retail secured creditors reject Reliance deal

Shareholders, unsecured creditors back the proposal

Secured creditors of Future Retail reject deal with Reliance Retail

A majority of 69.29 per cent of secured creditors of FRL voted against the resolution while 30.71 per cent voted in favour: Company.

Top Headlines: LIC IPO size may be cut, India's trade pacts, and more

Business Standard brings you the top headlines at this hour

Future Group lenders reject slump sale proposal to Reliance Retail

Cite 'uncertainty over the entire proposition' for rejecting the proposal

Reliance Retail to start artisan-only store format 'Swadesh'

Reliance Retail on Thursday said it will launch a dedicated artisan-only store format 'Swadesh', which will showcase agriculture & food products, handlooms, clothing, textiles, handicraft and handmade natural products. This will boost its handmade in India programme and provide a global platform for artisans and sellers of handcrafted products, said a statement by Reliance Retail. The first Swadesh store is expected to open in the second half of 2022, it said. "The programme is being spearheaded by Reliance Retail's handicraft brand Swadesh, which envisages an artisan-only dedicated store format for handcrafted products from across the country," it said. Besides, Reliance Retail, a subsidiary of Reliance Retail Ventures Limited (RRVL) is exploring new partnerships with state governments to create a strong, vigorous and sustainable ecosystem for local artisans, the statement added. As part of that, an MoU was signed on Thursday at the Bengal Global Business Summit in Kolkata with .

Reliance Brands acquires 51% stake in couturiers Abu Jani Sandeep Khosla

Abu Jani and Sandeep Khosla will continue to lead the design and creative direction of the brand.

Future Enterprises defaults on Rs 9.10 cr interest payment for NCDs

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said

Future-Amazon case: Supreme Court lifts stay on SIAC arbitration

The SC said in its order that the interim application will be transmitted to the Delhi High Court as agreed by both parties and as proceedings have already begun there

Amazon, Future will approach Singapore tribunal to resume arbitration: SC

SC on Wednesday observed that parties will approach tribunal led by Singapore International Arbitration Centre to resume arbitration proceeding in relation with merger deal of FRL with Reliance Retail

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 Justice N V Ramana and Justices Krishna Murari and Hima Kohli took note of the consent of US e-commerce major Amazon and Future group over the resumption of arbitral proceedings before the Singapore International Arbitration Centre (SIAC). The bench said the SIAC tribunal would pass an appropriate order on a plea of FRL filed under a provision of the Arbitration and Conciliation Act which provides for passing an order if the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible. Earlier, the apex court had asked the Future Group and Amazon to jointly urge the Delhi High Court to first hear the enforcement petitions of Amazon which also relate to the preservation of assets of FRL. Amazon had moved the top