Page 35 - Future Retail News Today

MUMBAI: Shares of Future Group companies fell sharply on Monday, some as much as 20 percent, after India’s biggest retailer Reliance called off its $3.4 billion deal with the group over the weekend, pushing its flagship Future Retail towards possible bankruptcy. Shares of Future Supply Chain Solutions, Future Retail, Future Lifestyle Fashions, Future Consumer and Future

Reliance’s decision to back out comes after almost two years of litigation as Amazon contested the takeover.

The Sensex and Nifty are set to fall in opening trade on Monday, mirroring weakness in Asian peers and bearish trends at SGX Nifty futures.

Caught in a mountain of debt, its flagship, Future Retail as also Future Lifestyle Fashions, among other group companies, face an uncertain future as the next stop appears to be the insolvency courts.

The fate of Future Retail lies entangled in a legal quagmire as banks are set to fight it out in the insolvency tribunal amid a pending arbitration in Singapore, a case in the Supreme Court and another pending in the debt recovery tribunal

Founders are definitely responsible for corporate governance, but investors believe the responsibility of the board cannot be ignored

New Delhi: The UGC and All-India Council for Technical Education have issued a public notice saying Indian job market would not be open for those who seek educational qualifications in Pakistan. PTI

Amazon has fiercely contested the takeover by Ambani in several courts

MUMBAI: India’s top retailer Reliance on Saturday called off its $3.4 billion deal with Future Group, saying it “cannot be implemented” after Future’s secured creditors rejected it. The deal was at the center of legal battles since 2020 after Future’s partner Amazon.com Inc. legally blocked it, citing violation of certain contracts. Future denied any wrongdoing. In a stock

Reliance says merger with ‘cannot be implemented’ after Kishore Biyanis secured creditors scupper deal