Page 44 - Future Retail News Today

Debt-ridden Future Retail Ltd's CEO Sadashiv Nayak has resigned from the post seven months after his appointment, according to a filing.

Reliance said it went "well and truly beyond what can be expected" to keep Future "out of harm's way," as it took "significant steps" to ensure business continuity at Future.

Future Retail Limited (FRL) counsel on Friday told the Supreme Court that nobody wants to do business with it today as Section 7 of the IBC may come any day, and the company owes landlords thousands of crores in rentals, as Amazon could not get ...

Future Retail Ltd (FRL) on Friday told the Supreme Court that nobody wants to do business with it today as Section 7 of the IBC may come any day, and the company owes landlords thousands of crores in rentals, ruing that as Amazon could not get ...

Future Retail told the Supreme Court that "Amazon wanted to destroy us and it succeeded," as the bitter and long-running legal battle continues, with the next hearing scheduled for April 4.

Last year, FRL had entered into a One Time Restructuring (OTR) scheme for COVID-hit companies with a consortium of banks and was under obligation to raise Rs 3,900 crore before March 31, 2022 by way of equity contribution.

“Amazon wanted to destroy us, they have destroyed us,” Harish Salve appearing for Future retail submitted before the court.

Future Retail Ltd, Supreme Court, Amazon, business, Reliance Industries, Future Coupons Pvt Ltd,

Reliance said it went "well and truly beyond what can be expected" to keep Future "out of harm's way," as it took "significant steps" to ensure business continuity at Future.

India's top retailer, 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 company letter shows.