Page 8 - Reliance Group

Four firms selected for Rs 18,000 crore PLI scheme for ACC battery

Four companies have been selected to receive incentives under the government's Rs 18,100 crore PLI scheme for Advanced Chemistry Cell (ACC) battery storage, the government said

Vedantu appoints former Reliance, Google executive as chief growth officer

Rungta is a seasoned leader with strong management experience across consumer internet, technology, and SaaS organisations

Banks to start debt recovery proceedings against Future Retail: Report

Indian lenders are set to initiate debt recovery proceedings against Future Retail this week to safeguard their interests after rival Reliance unexpectedly took over some of the retailer's stores

Top Headlines: Fed signals more hikes; India may import cheap Russian oil

The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year

Future Retail to take steps needed to get back stores from Reliance Group

FR: says its board has strongly objected to such action by RIL and has also put a notice to it to reconsider all other action initiated over the past few days

Bad news for Amazon as Ambani's RIL seizes the future of retail in India

In the end, Mukesh Ambani settled the dispute over who gets to own the assets of beleaguered Future Retail not in an arbitration tribunal in Singapore, or in a Delhi courtroom, but in a shopping aisle

Termination notice to 947 Future Group stores from Reliance

Future Group now has about 550 stores of around 1,500, a company official said

'Shops are gone': How Reliance stunned Amazon in battle for Future Retail

At a large Future Retail supermarket in Mumbai last week, workers were unloading hundreds of bright blue grocery crates belonging to India's biggest retailer Reliance

FRL-Reliance merger: SC defers hearing on Amazon's plea for 10 days

A bench headed by Chief Justice N V Ramana took note of the submissions of senior advocate Gopal Subramanium, appearing for Amazon, that there be no order from the Delhi High Court

Reliance Retail invests in Abraham & Thakore for majority stake

Billionaire Mukesh Ambani's Reliance group on Tuesday said its retail arm has invested in luxury fashion house Abraham & Thakore for an undisclosed majority stake, strengthening the line of lifestyle brands under its umbrella. "Reliance Retail Ventures Ltd, a subsidiary of BSE-listed Reliance Industries Ltd and the holding company of all retail companies within the group, has invested in Abraham & Thakore Exports Pvt Ltd for a majority stake," the firm said in a statement. Reliance Retail Ventures Ltd (RRVL) will leverage its subsidiary Reliance Brands Ltd's deep understanding of the affluent Indian customer and their heft across digital, retail operations, marketing, and supply chain platforms, to build brand Abraham & Thakore's global appeal in the fashion and lifestyle category. Launched in 1992 by David Abraham and Rakesh Thakore, they were soon joined by Kevin Nigli, who famously became the '&' in Abraham & Thakore (A&T). A&T unlocked the potential and

Reliance to take over operations of 250 more Future Retail stores: Report

Reliance's move assumes significance as it follows failed efforts since 2020 to close a $3.4-bn deal to acquire the retail assets of Future

Reliance takes over operations of 200 Future Group's stores

Reliance Industries is in the process of transferring 30,000 Future Group employees to its staffing and manpower firm

Scaling down ops to cut losses, says FRL as Reliance takes over its stores

Future Retail on Saturday said long-stop date for deal with Reliance has been extended to September 30, 2022

Reliance to take over 200 Future stores' operations amid Amazon row: Report

The takeover of stores by Reliance signals Future's worsening financial situation as its retail assets sale remains blocked due to legal battles

CCI does not have powers to keep own order in abeyance: Amazon tells NCLAT

The e-commerce major made the submission before the National Company Law Appellate Tribunal (NCLAT), which is hearing its plea against the decision of the Competition Commission of India (CCI)

British retailer Marks & Spencer launches homeware collection in India

British retailer Marks & Spencer on Thursday announced the launch of its homeware collection in India across its select stores and the website, apart from e-commerce channel partners AJIO and Myntra. The company is targeting urban consumers through its homeware collection, said Marks & Spencer Reliance India Managing Director James Munson. Munson added that after the pandemic, people have a new-found connection to their homes. The collection will offer products in beddings, bathrooms, wellness and dining category, according to a statement. "We are targeting urban consumers who are quality connoisseurs and are seeking value for their money. Those who aspire for contemporary and beautiful homes and yet want solutions that are designed to last using materials sourced with care," he said. Marks & Spencer operates through a 51:49 joint venture in the Indian market with Reliance Retail. "After the pandemic, people have a new-found connection to their homes and M&S Homeware .

NCLAT allows RARCL plea to initiate insolvency against Narendra Plastics

The National Company Law Appellate Tribunal on Tuesday set aside an NCLT order that rejected an appeal by Reliance Asset Reconstruction Company Ltd (RARCL) to initiate insolvency proceeding against Narendra Plastics. The NCLAT also directed the NCLT to initiate the insolvency proceedings against the company. A three-member NCLAT bench headed by Chairperson Justice Ashok Bhushan set aside the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) which on August 13, 2021, rejected RARCL's plea to initiate insolvency proceedings. The NCLT had said the RARCL's plea was barred under limitations as it was filed beyond the prescribed limit of three years after default. The tribunal had said the RARCL had filed a petition under section 7 of the Insolvency & Bankruptcy Code on May 8, 2019, while Narendra Plastics' account was declared as NPA on June 30, 2014, which was prima facie filed after more than five years. This was challenged by RARCL, which is registered as

RInfra's subsidiary plea: DMRC provides details of funds in its bank a/c

As per the filing, DMRC has Rs 5,694 crores in its various bank accounts, as against DAMEPL's claim of above Rs 6,208 crores

NCLAT adjourns hearing on Amazon plea seeking stay on CCI order to Feb 25

The two-member Bench expressed difficulty in taking up the matter on Monday, as one of the members was retiring in the next four days

FRL seeks time on loan dues; independent directors accept Reliance's offer

Retailer asks apex court to direct banks on not labelling it NPA