Earlier, Future Retail Limited lawyer had argued that the retail firm may go bust and thousands may lose jobs if the Future-Reliance deal does not go through
Robust buying in shares of ITC, Kotak Mahindra Bank, State Bank of India, Bajaj Finance, ICICI Bank, and M&M helped the benchmark S&P BSE Sensex scale fresh lifetime peak of 50,687.51 level
Bharti Airtel posted a consolidated net profit of Rs 854 crore in the third quarter of December FY21, after six straight quarters of losses. Read the top news in Business Standard today
SEBI also barred FCRL Employee Welfare Trust and 4 others from securities market for 1 year
Future Retail said the Company will explore all legal remedies and take appropriate steps to pursue the scheme of arrangement.
Ruling seen as interim relief to Amazon; next phase of arbitration likely to begin soon in Singapore, say sources
In its petition, Amazon is said to have sought imprisonment of Future group promoters including Kishore Biyani for alleged violation of securities market rules
The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August
Delhi High Court sought response of Future Retail on Amazon's plea challenging observations by a judge the US e-commerce giant's attempt to control Indian entity was violative of FEMA and FDI rules
Future and Amazon are at loggerheads over the Indian group's August deal with Reliance Industries Ltd
Future Group expects normal sales to return for its retail vertical by the end of January, almost a year after the business was severely hit by pandemic-related disruptions, Kishore Biyani said
Singaporean barrister Michael Hwang joins three-member arbitration tribunal at SIAC, which is looking into the dispute over Future Group's $3.4 bn deal with Reliance Industries
"Being totally disillusioned and fed up with your lackadaisical attitude, we were left with no option, but to accept the offer from the Reliance," Biyani said
Amazon and Future Group have written to market regulator Sebi with contrasting requests over a Rs 24,713 crore buyout of assets of India's second-largest retailer
Tech companies emerged winners from the pandemic, others quickly adapted to change and thrived, but some sank deeper into problems
Heritage Foods has sold its entire holding representing over 3 per cent stake in Kishore Biyani-led Future Retail for around Rs 132 crore in the open market to mainly repay its long term loans.
The company had pleaded that it be excluded from being a party on account of jurisdiction objection
The legal counsel of Amazon told the court that it had introduced Samara, an investor to Future and the term sheet was offered to solve its problems
Despite the dispute with Amazon, Future group and Reliance seem determined to execute their nearly Rs 25,000-cr transaction. What is Kishore Biyani left with?
Amazon is willing to 'sink the ship' but doesn't want Reliance to acquire Future's assets, says one analyst.