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AICPD, Prahar ask Amazon to back off from RIL-Future Group deal


AICPD, Prahar ask Amazon to back off from RIL-Future Group deal
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Last Updated: Mar 04, 2021, 05:12 PM IST
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AICPD claims to represent the collective voice of around ten lakh distributors, stockists and suppliers of FMCG goods across India.
AFP
Traders body AICPD and NGO Prahar in an open letter on Thursday asked Amazon to back off from blocking the Reliance-Future Group deal, alleging mall vendors and suppliers have become collateral damage in the current tussle between the companies.
Around 6,000 Indian small vendors and suppliers have dues of Rs 6,000 crore (USD 800 million) from the Future Group.
These dues are pending for payment since March 2020. The announcement of Future-Reliance deal in August 2020 had given us hope that our dues will be cleared soon, All India Consumer Products Distributors Federation (AICPD) and Public Response Against Helplessness and Action for Redressal (Prahar) said in the letter. ....

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Mukesh Ambani's RIL buys stake in skyTran for pod taxi technology — Quartz India


March 1, 2021
Mukesh Ambani has yet again displayed his seriousness towards technology but experts believe it might be too soon to call his oil-to-telecom conglomerate “tech-first.”
On Feb. 28, Ambani’s Reliance Industries (RIL) said it had bought an additional stake in skyTran, a US-based company that has developed a technology for running pod taxis, for $26.76 million (Rs196 crore). RIL had first picked up a 12.7% stake in skyTran in 2018 and bought some additional shares of the company in 2019 and 2020. With the recent deal, RIL’s stake in skyTrans stands at 54.5%. All these investments have been done through RIL’s subsidiary Reliance Strategic Business Ventures. ....

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Future Retail says Amazon filed petition in SC against 8 Feb order on RIL deal


Future Retail says Amazon filed petition in SC against 8 Feb order on RIL deal
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Future Retail also said that it will defend Amazon petitioner through legal counsel
On 8 February, the Delhi High Court stayed its single judge direction to Future Retail Ltd and various statutory authorities to maintain status quo with regard to its Reliance Retail deal
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Future Retail Ltd on Monday said that e-commerce major Amazon had filed a petition on Supreme Court against 8 February order on Future group s ₹24,713-crore deal with Reliance.
The company also said that it will defend Amazon petitioner through legal counsel. ....

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