Page 4 - Future Retail

'Uncertainty over Reliance Industries deal drove FRL lenders to IBC'

Protracted litigation, safeguarding bankers' interest also led to the action

FRL rejects Amazon's opposition over shareholders' meeting on Reliance deal

Future Retail said the meetings have been convened in compliance with the directions given by the NCLT in its order passed on Feb 28, 2022

Bank of India moves NCLT as lead lender to Kishore Biyani-led Future Retail

BoI's loan exposure to Future Retail is Rs 1,441.62 crore

BoI drags Future Retail to NCLT, suggests V K V Iyer's name as IRP

Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the 'process of taking legal advice'

Bank of India moves NCLT against Future Retail, files insolvency plea

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

Amazon says anyone aiding FRL shareholders meeting is party to fraud

In a 16-page letter to Kishore Biyani, his daughter Ashni and other promoters, Amazon has said such meetings violate Singapore tribunal's injunction on sale of retail assets to RIL

Amazon warns FRL against holding meetings to approve Reliance deal

In a 16-page letter to Kishore Biyani and other promoters on April 12, the US e-commerce giant said such meetings are illegal

SC asks Amazon, Future to urge Delhi HC to hear 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

Amazon, FRL agree in SC to appear before Singapore Int'l Arbitration Centre

Last month, Amazon alleged that 80 per cent of FRL shops have been surrendered to Reliance

FRL making a mockery of Indian courts, says Amazon in SC submission

Accuses the Kishore Biyani-led retailer of making false statements before courts, including SC, about its $3.4 billion asset deal with Reliance Industries

Top Headlines: Tax collections at Rs 13 trn; PSBs stare at Rs 13k crore-hit

In FY22, direct tax collections broke all records, touching Rs 13,81 trillion. Future Retail and Future Enterprises defaulted on loan repayments worth Rs 8,157.97 crore. More in our top headlines:

SC asks whether it can pass orders restraining alienation of FRL's assets

Senior advocate Harish Salve, appearing for FRL, said that around 374 shops are with the group and it is not going to give them to anybody on its own unless some landlords throw it out

Future Retail, Future Enterprises default on Rs 8,158-cr loan repayments

FRL said it has missed the due date for repayment of Rs 5,322.32 cr to lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues

Markets start FY23 with solid gains; Sensex jumps 708pts, Nifty tops 17,650

CLOSING BELL: Sectorally, the Nifty PSU Bank index jumped 4 per cent on the bourses with Union Bank, Bank of India, Canara Bank, and Bank of Maharashtra adding over 4 per cent each

Stocks to Watch: Hero Moto, Vedanta, Lupin, Future Retail, ONGC, Tech M

The SGX Nifty futures were quoting at 17,431 levels at 7:30 am, hinting at a gap-down start of 100 points on the Nifty50.

Took steps to ensure biz continuity: RIL defends takeover of Future stores

Future Retail had earlier written to RIL over the takeover of its stores, according to three people in the know

Future Retail CEO resigns amid legal battle, debt recovery

FRL also said in Thursday's stock exchange filing that Kishore Biyani, founder and CEO of Future Group, was re-appointed as executive chairman of Future Retail for three years

Top headlines: PPF, NSC interest rates unchanged; SpiceJet settles dispute

Business Standard brings you the top headlines on Thursday

Reliance Group in letter defends its takeover of Future Retail stores

Reliance, has privately defended an abrupt takeover of the stores of debt-laden rival Future Retail, saying mounting dues of $634 million compelled it to act beyond expectations, a letter shows

To 'protect interest', banks to move DRT's Mumbai bench against Future

The lead bank of the consortium has to issue notice under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI).