Page 3 of Future Group

As reported by FE earlier, with Amazon objecting to the deal right from the start, the matter is currently under challenge before the Delhi high court, Supreme Court, NCLT, National Company Law Appellate Tribunal, Singapore Arbitration Tribunal, and Competition Commission of India. It remains to be seen how these cases pan out.

After lenders reject proposal, Reliance calls off deal with Future

Matter likely to be admitted by NCLT soon

April 24, 2022 05:15 IST

Reliance calls off Rs 24,713-cr deal with Future group after secured creditors rejection

In August 2020, Future Group announced the Rs 24,713-crore deal to sell 19 companies operating in retail, wholesale, logistics and…

Updated: April 23, 2022 21:50 IST

As it is, with Amazon objecting to the deal right from the start, the matter is currently in litigation before the Delhi high court, Supreme Court, NCLT, National Company Law Appellate Tribunal, Singapore Arbitration Tribunal, and Competition Commission of India.

Future-Reliance deal fails to get lenders’ nod; majority of lenders vote against takeover

Secured creditors are granted security from a company through either a legal fixed or floating charge over the business’ assets…

April 23, 2022 04:15 IST

Future Retail secured creditors rejects deal with Reliance Retail

A majority of 69.29 per cent of secured creditors of FRL voted against the resolution while 30.71 per cent voted…

April 22, 2022 20:35 IST

Corporate experts observed that lenders should have accepted Reliance’s offer, even if it did not meet their expectations, because a delay would only lead to a further erosion in the value of the assets.

Banks reject Future deal: Reliance takeover offer disappoints lenders

Corporate experts observed that lenders should have accepted the offer

April 22, 2022 04:30 IST

The firms did not divulge the results of the voting, but added they will be submitted to the stock exchanges.

Future holds shareholders’ meeting to seek nod for Rs 24,713-crore Reliance deal

The group companies — Future Retail (FRL), Future Enterprises (FEL), Future Lifestyle Fashions (FLF) and Future Consumer (FCL) — held…

April 21, 2022 06:10 IST

Bankers fear Alok Industries redux in Future Group resolution

There is a view among senior bankers that instead of yielding a clear-cut takeover of the group’s assets by Reliance…

April 21, 2022 03:30 IST

FRL shareholders’ e-voting ends; EGM for shareholders, creditors to be held on April 20, 21

As per an addendum notice that the company had submitted to the BSE, FRL’s remote e-voting for its equity shareholders…

April 19, 2022 21:47 IST

Future Enterprises defaults on Rs 1.22 cr interest payment for NCDs

The due date for payment of Rs 1.22 crore interest was April 13, 2022, FEL said in the regulatory filing.

Updated: April 15, 2022 15:02 IST

Bankers FE spoke to said that the company is unlikely to be able to cure the default over a one-month period and the account slipping into the non-performing asset (NPA) category would entail 40% provisioning.

Lenders beef up provisioning against Future Enterprises exposure

Future Enterprises develops, owns and leases the retail infrastructure for its parent group. The company also holds the group’s investments…

April 8, 2022 03:00 IST

FRL had subsequently argued that since Amazon had based its first right of refusal over any asset sale by it on this acquisition, the arbitration becomes null and void.

Amazon-Future Group row: Arbitration to begin at Singapore International Arbitration Centre soon

“I hope we don’t have to hear this case again,” the CJI said in a lighter vein at the close…

April 7, 2022 00:45 IST

Amazon-Future row: Stop Future Retail from transferring assets, Amazon tells Delhi High Court

The HC has asked FRL and other parties to file their response to the enforcement petition and the fresh affidavit…

April 6, 2022 03:15 IST

Amazon-Future dispute: SC to hear US e-commerce major on restraining alienation of FRL’s assets on Monday

The bench had taken note of the submissions of both sides, Amazon and Future Group, that they have no objection…

April 3, 2022 20:27 IST

"Besides, we are running the remaining 374 stores on a wing and a prayer…” Salve added.

For Rs 1,400 crore, Amazon has destroyed a Rs 26,000-crore company: Future to SC

Amazon has been successful in what it wanted to do…We are hanging by a thread. No one wants to do…

April 2, 2022 01:15 IST

Future Retail, Future Enterprises default on Rs 8,158 crore loan repayments

The due date for payment of Rs 2,835.65 crore by Future Enterprises Ltd (FEL) and Rs 5,322.32 crore by Future…

April 1, 2022 22:38 IST

Amazon-Future dispute: SC asks whether it can pass orders restraining alienation of FRL’s assets

A bench headed by Chief Justice N V Ramana, which has now posted the plea of US e-commerce major for…

April 1, 2022 19:34 IST

The March 8 letter, seen by Reuters, reveals for the first time Reliance's stance on the events of the night of Feb. 25, when staff suddenly showed up at many of its rival's stores to take control over missed lease payments.

Reliance defends takeover of debt-laden rival Future stores in letter

The takeover was part of the race to dominate a $900-billion retail sector that set off a bitter dispute in…

March 31, 2022 17:22 IST

Future Enterprises defaults on Rs 19.16 crore loan repayment

This is the second default by FEL this month. The due date for payment of Rs 19.16 crore was March…

March 29, 2022 22:31 IST

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