The scheme of arrangement between Future and Reliance Retail, announced in August last year entails consolidation of Future Group's 19 companies into one entity -- Future Enterprises Ltd.
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Future had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after Amazon.com challenged it.
In a statement to the stock exchanges, Future Retail said no financial or business impact on the company is expected as the arrangement was at the subsidiary company level
'Reliance Retail Ventures Limited extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022,' says Future Retail
Will seek shareholder approval to sell assets to Reliance Retail
Traders and Apni Party activists on Tuesday staged separate protests against the proposed opening of 100 Reliance retail stores in Jammu, a claim which the company said is completely untrue
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Reliance Retail has become the second-largest customer of the Kishore Biyani-led Future group's FMCG arm Future Consumer, contributing over one-fourth of the total sales of the company.
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In January this year, the market regulator had given a go-ahead for Future Group's scheme of arrangement and sale of assets to Reliance
Future Retail said it has approached the Supreme Court against orders passed by the Delhi High Court to maintain the status quo in relation to its Rs 24,713 crore deal with Reliance Retail
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The Delhi High Court Tuesday said it will implement the single-judge order restraining Future Retail Ltd (FRL) from going ahead with the Rs 24,713 crore deal with Reliance Retail to sell its business
The case centres around Amazon challenging Future's merger deal with Reliance Retail
Financials fall due to Covid lockdowns, group posts Rs 5,943 cr loss on Rs 11, 723 cr sales
Retail entity's cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under strain