Page 32 - Future Retail News Today

Rejection of the Reliance deal by its creditors has put Future Retail in deep trouble. With Reliance becoming the main tenant of 835 FRL stores across formats, it has very little to offer to any potential buyer, once its creditors drag it to the auction block

While India’s ease of doing business or EoDB ranking has risen, on-ground indicators suggest a tough time for Indian startups & tech giants

A Parliamentary Panel will summon representatives of Google, Amazon, Facebook, Twitter, and others to examine their competitive conduct.

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

Indian equity benchmarks jumped on Thursday, riding higher on investor optimism driven mainly by a rally on Wall Street tracking robust US company earnings, but global economic growth fears, a slowdown in demand from China's stringent restrictions, and Europe's energy crisis persist.

FRL has defaulted on payment of Rs 5,322.32 crore to its lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues.

Billionaire’s US$3.2bil retail plan rebuffed by banks

Indian equities fell on Wednesday tracking a broader global equities sell-off as investors were rattled by economic growth fears and news that Russia will cutgas supplies to Eastern Europe added to the already grim mood.

Move comes after Reliance Industries Ltd called off the mega deal to acquire various assets of the Future group last week

Global credit rating agency S&P Global Ratings anticipating a certain default by Future Retail Ltd on its $500 million senior secured notes lowered the credit ratings from CCC- to CC."We lowered the rating on Future Retails $500 ...