The latest hearing comes after the Supreme Court asked Future Group and Amazon to request HC to hear the case on the enforcement of the emergency arbitration award passed by SIAC
SC asks both parties to urge Delhi HC to hear enforcement pleas of US firm first
It has been alleged by Amazon that on March 3, as many as 600 stores of FRL were taken away by Reliance
Earlier, Amazon had apprehended the 'disappearance' of assets and sought an interim order from the top court to ensure the preservation of assets of Future Retail Ltd
Stock market live updates: Opening Bell Stock market live updates: The key benchmark indices started Monday's session with mild gains amid ensuing uncertainty of the Russia-Ukraine war. The BSE Sense
Future Group companies will convene meeting with their respective shareholders and creditors on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail
Russian military offers Ukrainian troops defending the strategic port of Mariupol to lay down arms. More on that in our morning wrap.
The founding team and management will own the balance stake in the company, which include Pankaj Vermani, Neha Kant, and Suman Choudhary, who launched Clovia in 2013
The firm will invest Rs 950 crore via a combination of secondary stake purchase and primary investment
Future Group's 19 companies operating in retail, wholesale, logistics and warehousing assets would be consolidated into one entity, FEL, and then transferred to Reliance
The Supreme Court asked the Future group to file its reply to an interim plea of Amazon seeking resumption of arbitration over Future Retail's merger deal with Reliance Retail
Amazon has for months blocked the $3.4 billion sale of Future's retail assets to rival Reliance, announced in 2020, citing a breach of certain contracts
Business Standard brings you the top headlines on Friday
Billionaire Mukesh Ambani's Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously.
Reliance jolted Amazon by taking over Future's stores, staff even as the e-commerce giant furiously tried to block formal acquisitions through lawsuits and arbitration across India and Singapore
Future Group companies would convene meetings of their respective shareholders and creditors between April 20 and April 23, 2022
Last year, RIL arm had partnered Manish Malhotra's brand and Raghavendra Rathore's company
Shares of Future Supply Chain Solutions, Future Retail, Future Lifestyle Fashions, Future Consumer and Future Enterprises rose between 7% and 16%
Reliance Retail continues to execute strongly and has grown its retail footprint by 39 per cent (in sq.ft) since pandemic, added multiple brands, Bernstein said in a report.
InMobi's social media arm Roposo is in discussions with Reliance Retail for a social commerce related business deal which is expected to be rolled out in the next two quarters, a top official said