Future Group

NSE Warned Future Retail of Action Over Disclosures on Amazon Dispute, Emails Reveal

Reuters | Wednesday November 25, 2020

National Stock Exchange (NSE) had warned Future Retail of regulatory action for not making timely market disclosures about efforts by Amazon to block its deal with Reliance.

"I Have To Ask Big Brother In America?" Retailer In Reliance vs Amazon

India News | Saritha Rai, Bloomberg | Wednesday November 25, 2020

A battle between Amazon.com Inc. and Reliance Industries Ltd. to dominate India's $1 trillion consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer.

Reliance Surges After Fair Trade Regulator Clears Deal With Future Group

Business | Edited By Abhishek Vasudev | Monday November 23, 2020

The Rs 24,713 crore deal that would boost Reliance Industries' fast growing retail business was announced in August.

Nifty, Sensex Gain Amid COVID-19 Vaccine Hopes; Reliance Industries Leads Pack

Business | Reuters | Monday November 23, 2020

Reliance Industries advanced 3 per centafter the country's fair trade regulator approved its deal to buy Future Group's retail assets.

Reliance-Future Deal: Delhi High Court Reserves Order On Future's Plea

Business | Press Trust of India | Sunday November 22, 2020

The Future Group and Amazon have been locked in a battle after the US-based company took FRL into an emergency arbitration over an alleged breach of contract.

Reliance-Future’s $3.4-Billion Deal Cleared by CCI Despite Amazon’s Objections

Reuters | Saturday November 21, 2020

Competition Commission of India (CCI) cleared conglomerate Reliance Industries' $3.4-billion (roughly Rs. 25,200 crores) deal to buy Future Group's retail assets, thwarting Amazon’s efforts to block the deal.

Reliance Retail Closes Over Rs. 47,200-Crore Fundraising From 10.09 Percent Stake Sale

Reuters | Friday November 20, 2020

Reliance said its retail arm had completed its fundraising exercise as more than half a dozen investors poured Rs. 47,200 crores into a 10.09 percent stake in the company in two months.

Amazon Not Shareholder, No Say in Company Affairs: Future Retail Tells Delhi High Court

Press Trust of India | Friday November 13, 2020

Future Retail told the Delhi High Court that Amazon was not its shareholder and has no say in its affairs and the interim order passed by the Singapore International Arbitration Centre was of no value.

Why Amazon Is Feuding With A Partner And Mukesh Ambani

India News | Bhuma Shrivastava and Upmanyu Trivedi, Bloomberg | Friday November 13, 2020

A legal spat between Amazon.com Inc. and its Indian partner that started before an arbitrator in Singapore just got fiercer in a court in New Delhi.

Future Retail Says It Communicated With Reliance on Arbitration Order for ‘Legitimate Purpose’

Reuters | Thursday November 12, 2020

India's Future Retail communicated with Reliance Industries on an arbitration order related to its dispute with Amazon for a "legitimate purpose."

Amazon Accuses Future Of Insider Trading As It Seeks To Block Reliance Deal: Report

Business | Reuters | Wednesday November 11, 2020

The spat is being closely watched as a key test of whether Indian firms, courts and regulators will respect arbitration decisions made in accordance with overseas arbitration rules.

Amazon Accuses Future Group of Insider Trading in New Push to Block Reliance Deal

Reuters | Wednesday November 11, 2020

Amazon in a November 8 letter to the Securities and Exchange Board of India (SEBI) alleged that Future Retail disclosed to Reliance price sensitive details of an injunction granted by a Singapore arbitrator to block the deal.

Amazon Tells India Regulator Its Partner Future Retail Is Misleading Public

Reuters | Saturday October 31, 2020

Amazon has complained to India's market regulator that its local partner Future Retail misled shareholders by incorrectly saying it was complying with its contractual obligations to the US e-commerce giant.

Amazon Tells Sebi Its Partner, Future Retail, Is Misleading Public: Report

Business | Reuters | Sunday November 1, 2020

Future Group in August sold its retail assets to Reliance Industries for $3.4 billion. The deal, Amazon alleges, breaches 2019 agreements by Future.

BSE To Consult SEBI On Future-Reliance Deal After Amazon Objection: Report

Business | Reuters | Friday October 30, 2020

Amazon on October 25 won an injunction from a Singapore arbitrator to halt Future's deal to sell retail assets to Reliance.