future retail - Latest News, Analysis, Opinion

Last week, Future Retail's Managing Director Rakesh Biyani stepped down, while officials including the company secretary of the debt-ridden firm tendered resignation

Future Retail MD Rakesh Biyani Steps Down, Company Secretary Resigns

Companies & Markets Corporate Movement

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

NCLT Gives Future Retail Time Till May 12 To File Reply On Insolvency Plea

Last week, Bank of India had moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments

Future Group Lenders Reject Reliance's Retail Assets Deal: Report

The rejection by lenders come amid a long-drawn legal challenge by U.S. e-commerce giant Amazon.com Inc that has accused Future of violating certain contracts by dealing with Reliance, run by Mukesh Ambani

Future Retail Holds Shareholders' Meet On Asset Sale To Reliance Retail

The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the NCLT to chair the meeting

FRL EGM For Shareholders, Creditors On April 20, 21 As E-voting Ends

FRL has scheduled meetings of equity shareholders, secured creditors and unsecured creditors of the company on April 20 and 21, 2022, respectively as per directions of the Mumbai Bench of the National Company Law Tribunal (NCLT)

Future Rejects Amazon's Opposition Over Shareholders' Meeting On Sale Of Assets

Earlier this week, e-commerce major Amazon, which is contesting the Rs 24,713 crore deal, had said the meetings were ''illegal''

Bank Of India Initiates Insolvency Proceedings Against Future Retail

Earlier this month, FRL had reported a default of ₹ 5,322.32 crore to its lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues

Supreme Court Orders Arbitration Resumption On Future Retail's Merger With Reliance Retail

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 SIAC

Indian Banks To Start Debt Recovery Proceedings Against Future Retail

Banking & Finance Banking

State-owned lender Bank of Baroda will be the first to take Future to the Debt Recovery Tribunal and is expected to file the paperwork this week, the two bankers say

Future Retail Says Will Act To Reverse Store Takeovers By Reliance

Reuters has reported that many in Future's management were in the dark about Reliance's plans

Amazon Plans To File Criminal Case Against Future Over Store Transfers

For more than a year, Amazon and Future Group have been in a legal stand-off that has stalled Future's $3.4 billion sale of assets to Reliance Industries

Future Retail Pays $14 Million Interest On USD Notes In Grace Period

Debt-ridden Future Retail has made a payment of $14 million for interest due on the dollar-denominated notes (USD Notes) listed on the Singapore Stock Exchange after missing the due date last month.

Future Retail's Q3 Net Loss Widens To Rs 1,063.4 Cr; Revenue Up 86.8%