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Future Retail Q3 results: The consolidated revenue from operations plunged by 71 per cent to Rs 1,506.87 crore during Q3 FY21 as against Rs 5,193.19 crore of the corresponding quarter last fiscal
The Delhi High Court on Tuesday asked Future Retail Ltd (FRL) to maintain the status quo with respect to its $3.4 billion (about Rs 24,700 crore) deal with Reliance Retail. The court said it was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon. The development has come as a temporary relief for Jeff Bezos-led e-commerce giant Amazon, which is battling to thwart the Future group’s asset sale to Reliance. “Hearing Amazon’s plea, the high court has granted an interim relief to Amazon, directing all authorities and parties to maintain th...
ED investigating Amazon for FDI violations in Future Retail deal Amazon, in its shareholders' agreement, had barred Future Coupon from selling its assets to 15 firms, including Reliance Industries. However, in August last year, Reliance Retail acquired a 30 per cent stake in Future Group businesses for Rs 24,000 crore, which started the row with Amazon BusinessToday.In | January 28, 2021 | Updated 20:04 IST Representative Image The Enforcement Directorate (ED) is investigating e-commerce giant Amazon for alleged violation of foreign exchange laws in its dealings with Kishore Biyani-led Futur...
Amazon knew fully about talks with RIL for retail assets' sale: Kishore Biyani Biyani said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance PTI | January 6, 2021 | Updated 09:15 IST Future Group Founder and CEO Kishore Biyani Future Group Founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide ov...
Explained: Why Future Group took Amazon to court, and what the Delhi HC said Given that Future Retail failed to stop Amazon from presenting itself to the various government bodies and regulators, the e-commerce giant will be allowed to make its case, mainly on the basis of the arbitration award. Written by Pranav Mukul , Edited by Explained Desk | New Delhi | Updated: January 4, 2021 12:08:35 pm The Amazon logo sits on a box as it passes under a scanner inside an Amazon center. (Bloomberg Photo: Alex Kraus, File) The Delhi High Court Mon...