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US e-commerce giant Amazon on Wednesday filed a plea in the Supreme Court to restrain Mukesh Ambani-led Reliance Retail from opening any new stores in place of Future Group's Big Bazaar. It also asked the top court to stop the Future group from alienating or transferring any of its retail assets till the final disposal of its arbitration petition by the Singapore tribunal.
Talks between Amazon.com Inc and Future Retail aimed at resolving a long-running dispute over whether Future's retail assets can be sold to Reliance Industries (RIL) have failed, lawyers for the companies told the Supreme Court on Tuesday. Both Amazon and Future said they would like to resume arbitration proceedings in Singapore that had been put on hold by the Delhi High Court. The top court will hear the matter on Wednesday. Amazon has also accused Future Retail and RIL of "fraud". In a notice published in the newspapers, Amazon warned the founders of Future Retail that any ef...
'These actions have been done in a clandestine manner by cheating on the Constitutional Courts in India'
Future Retail Ltd's director Rahul Garg has resigned from the board, a regulatory filing by the debt-ridden company said on Tuesday. "Rahul Garg, Non-Executive Director has resigned from the Board of Directors and other Committees of the Board with effect from 14th March, 2022," said Future group firm. The company appreciates his valuable contribution and support made during
By David Asta Alares New Delhi, Mar 12 (EFE).- The richest man in India and the chairman of Indian conglomerate Reliance Industries Ltd, Mukesh Ambani, recently took his rival, American multinational Amazon, by surprise overnight, taking over the operations of hundreds of stores of the Future Group conglomerate. The conglomerate is a coveted retail network …