Mukesh Ambani-controlled Reliance Industries Ltd (RIL) expects to get the necessary approvals to hive off its oil-to-chemicals (O2C) business into a separate unit by the second quarter of the next financial year, according to the company s presentation to investors on Monday. The company had initiated the process of spinning off the O2C business at a time when the Covid-19 pandemic caused a slump in fuel demand and weighed on the segment s recent results. Reliance would retain full control of the business after restructuring, the company said in the presentation. The Mumbai-headquartered conglomerate also announced its aim to work with the O2C business to reduce its carbon footprint and become net carbon zero by 2035.
Updated Jan 12, 2021 | 09:17 IST
Future Group and Amazon are entangled in a bitter legal dispute over the Indian retail company s Rs 24,713 crore deal with Mukeh Ambani-controlled Reliance Industries (RIL). Amazon may file fresh plea in Delhi High Court against Future’s Rs 24,713 crore deal with RIL | Photo Credit: BCCL
New Delhi: E-commerce behemoth Amazon is likely to file a fresh petition as early as this week in the Delhi High Court in the ongoing legal feud against the Kishore Biyani-led Future Group over the sale of the latter’s retail business to Reliance Retail Ventures Ltd (RRVL), subsidiary of Mukesh Ambani-controlled Reliance Industries Ltd (RIL).
Updated Dec 21, 2020 | 07:09 IST
The Delhi High Court will give its judgment at 10:30 am on Monday (December 21). Last month, the Competition Commission of India had approved RIL s Rs 24,713-crore offer to acquire Future Group’s retail assets. Delhi High Court to give verdict on Future-Retail-Amazon case today. | Photo Credit: BCCL
New Delhi: The Delhi High Court is all set to give its judgment on Monday (December 21) on Future Retail Ltd’s plea to restrain online behemoth Amazon.com from writing letters to regulators against its asset sale with Mukesh Ambani-controlled Reliance Industries Ltd (RIL).
The court will give its ruling at 10:30 am on Monday,