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Reliance Retail slaps notices on Future Retail for terminating sub-leases of previously acquired 950 stores

While the political parties will eagerly await the results for all five states, the market and the country will closely watch the results of the politically-important state of Uttar Pradesh.

Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously

These stores contribute around 55% to 65% of retail revenue operations of the Future Retail.

Last week, Reliance had taken over control of nearly 200 small-format retail stores of the debt-ridden Future Group.

Billionaire Mukesh Ambanis Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously, , reliance retail

While the political parties will eagerly await the results for all five states, the market and the country will closely watch the results of the politically-important state of Uttar Pradesh.

The Delhi HC has refused to entertain a plea submitted by Amazon against Reliance taking charge of Future Group’s stores.

When Future Group employees came to the store early in the morning in Vadodara, West Gujarat, they were asked to go back home and no reason was given for the same.

'The shops are gone': How Reliance stunned Amazon in battle for India's Future Retail