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On October 25, SIAC had passed an interim order in favour of Amazon, and restrained Future Group from proceeding with the deal.(REUTERS)

Siac panel set up for verdict in Future Group vs Amazon case

By Anirudh Laskar | Hindustan Times, Mumbai
PUBLISHED ON JAN 06, 2021 11:47 PM IST
Amazon has also asked Sebi to direct Future Group from merging six Future Group companies, which are a key part of the deal with RIL.
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An employee of Amazon walks through a turnstile gate inside an Amazon Fulfillment Centre on the outskirts of Bengaluru.(REUTERS)
An employee of Amazon walks through a turnstile gate inside an Amazon Fulfillment Centre on the outskirts of Bengaluru.(REUTERS)

Amazon asks SEBI to wait for SIAC order

By Anirudh Laskar | Livemint, Mumbai
UPDATED ON DEC 29, 2020 06:22 AM IST
In a 21 December letter, Amazon told Sebi that the Singapore arbitration court’s ruling has been held valid under India’s arbitration Act by the Delhi high court and, hence, the Future group’s amalgamation must wait till the Singapore court gives a final judgement.
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Jeff Bezos, president and CEO of Amazon, and Mukesh Ambani, Chairman and Managing Director of Reliance Industries, are seen in this combination photo.(REUTERS)
Jeff Bezos, president and CEO of Amazon, and Mukesh Ambani, Chairman and Managing Director of Reliance Industries, are seen in this combination photo.(REUTERS)

In India’s retail, a battle of the billionaires

By Livemint | Livemint, New Delhi
UPDATED ON DEC 23, 2020 04:54 AM IST
The battle for dominance in one of the fastest-growing major retail markets is being fought on the ground in India and the courts in Singapore and New Delhi.
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According to a November 27 notification issued by the Securities and Exchange Board of India (Sebi) that sought an explanation from BSE, the country’s oldest exchange gave its no-objection certificate to the Future Group companies on November 6.(File photo)
According to a November 27 notification issued by the Securities and Exchange Board of India (Sebi) that sought an explanation from BSE, the country’s oldest exchange gave its no-objection certificate to the Future Group companies on November 6.(File photo)

Sebi seeks clarity on BSE nod to Future, Reliance agreement

By Anirudh Laskar
UPDATED ON DEC 03, 2020 05:58 AM IST
The markets regulator has questioned BSE’s alacrity in clearing the share capital reorganization of Future Group firms, as part of a $3.5 billion acquisition by Reliance Industries Ltd (RIL), despite four unresolved complaints against the deal, including one by Amazon.com Inc.
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The legal spat has not only revealed the intensity of the fight between two of the world’s richest men -- Jeff Bezos and Ambani.(Reuters File Photo)
The legal spat has not only revealed the intensity of the fight between two of the world’s richest men -- Jeff Bezos and Ambani.(Reuters File Photo)

‘Big Brother’ Amazon targeted in fight with Ambani over retailer

By Bloomberg | Posted by Kanishka Sarkar
PUBLISHED ON NOV 25, 2020 01:45 PM IST
The stakes are high for both Amazon and Reliance. Securing Future’s assets will give Reliance, already India’s biggest retailer, an unparalleled edge in a market where most of the consumers still prefer shopping in stores. That’s an advantage Amazon is not willing to cede.
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In August this year, Future had reached an agreement to sell its retail, wholesale, logistics and warehousing units to Reliance.(Indranil Bhoumik/mint)
In August this year, Future had reached an agreement to sell its retail, wholesale, logistics and warehousing units to Reliance.(Indranil Bhoumik/mint)

HC reserves order on Future Retail’s plea to injunct Amazon from interfering in Reliance deal

By Press Trust of India | Posted by Deepali Sharma | New Delhi
PUBLISHED ON NOV 20, 2020 09:22 PM IST
The Future Group and Amazon have been locked in a battle after the US-based company took FRL into an emergency arbitration over alleged breach of contract.
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The US e-commerce giant and Future Group, whose assets billionaire Mukesh Ambani’s Reliance Industries Ltd. recently agreed to buy for $3.4 billion, are locked in a dispute over that deal(REUTERS)
The US e-commerce giant and Future Group, whose assets billionaire Mukesh Ambani’s Reliance Industries Ltd. recently agreed to buy for $3.4 billion, are locked in a dispute over that deal(REUTERS)

Why Amazon is feuding with a partner and billionaire Mukesh Ambani

By Bloomberg | Posted by Ayshee Bhaduri
UPDATED ON NOV 12, 2020 09:16 PM IST
Amazon has hinted that this spat is about India’s willingness to enforce business contracts. If Future is allowed to renege on a contract, it’ll mean business contracts are not sacrosanct and investments in India are risky, an inconvenient image as the nation looks to lure foreign investment.
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FILE PHOTO: The logo of Amazon is pictured inside the company's office in Bengaluru, India.(REUTERS)
FILE PHOTO: The logo of Amazon is pictured inside the company's office in Bengaluru, India.(REUTERS)

Future hid facts, claims Amazon

By Anirudh Laskar | Livemint, Mumbai
PUBLISHED ON NOV 10, 2020 04:10 AM IST
In a letter addressed to Sebi, Amazon has alleged that Future Group has perpetuated “fraud” by misleading public shareholders. A copy of the letter was reviewed by Mint.
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World’s wealthiest person and Amazon founder-CEO Jeff Bezos (REUTERS/Lindsey Wasson/File Photo)
World’s wealthiest person and Amazon founder-CEO Jeff Bezos (REUTERS/Lindsey Wasson/File Photo)

Jeff Bezos, Mukesh Ambani in battle over Future Group

By Bloomberg | Posted by Karan Manral
UPDATED ON NOV 03, 2020 01:35 PM IST
Jeff Bezos-led Amazon Inc is trying to block Mukesh Ambani-led Reliance Industries’ $3.4 billion acquisition of India’s debt-laden local retailer Future Group. While Bezos is the world’s wealthiest person, Ambani occupies the sixth spot.
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The assets of the debt-laden Future group, which include the popular Big Bazaar supermarket chain, are the bone of contention between the two billionaires.(REUTERS)
The assets of the debt-laden Future group, which include the popular Big Bazaar supermarket chain, are the bone of contention between the two billionaires.(REUTERS)

Future, RIL to fight arbitration verdict

By Anirudh Laskar | Hindustan Times, Mumbai
UPDATED ON OCT 27, 2020 04:00 AM IST
The investment gave Amazon a 5% indirect stake in Future Retail Ltd. The non-compete clause in the agreement restricted FCPL and its promoters from forging any alliance with RIL, among 30 other entities.
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Amazon, which had agreed to purchase 49 per cent of one of Future’s unlisted firms last year with the right to buy into flagship Future Retail Ltd after a period of three years to 10 years, had dragged Future to arbitration after it signed a pact to sell retail, wholesale, logistics and warehousing units to RIL.(Reuters file photo)
Amazon, which had agreed to purchase 49 per cent of one of Future’s unlisted firms last year with the right to buy into flagship Future Retail Ltd after a period of three years to 10 years, had dragged Future to arbitration after it signed a pact to sell retail, wholesale, logistics and warehousing units to RIL.(Reuters file photo)

Future Group shares tank up to 10% after Reliance deal put on hold; RIL down 4%

By Press Trust of India | Posted by Deepali Sharma | New Delhi
UPDATED ON OCT 26, 2020 08:25 PM IST
Future Retail Ltd, which operates retail chains as Big Bazar and Easy Day said it is not a party to the agreement under which Amazon has invoked arbitration proceedings and the deal cannot be held back through the arbitration process.
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The logo of Amazon is pictured inside the company's office in Bengaluru, India (REUTERS/Abhishek N. Chinnappa)
The logo of Amazon is pictured inside the company's office in Bengaluru, India (REUTERS/Abhishek N. Chinnappa)

Amazon, Reliance in ‘face-off’ over assets of Future Retail Limited

By Bloomberg | Posted by Deepali Sharma
UPDATED ON OCT 26, 2020 03:21 PM IST
Amazon and Reliance are led by two of the world’s wealthiest men--Jeff Bezons for Amazon and Mukesh Ambani for Reliance. Both the companies want stores and warehouses of Future Retail.
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Amazon’s plans to help Future stems from the concern that the RIL-Future deal may significantly increase the competition for Amazon, which has bet big on the Indian market.(Reuters)
Amazon’s plans to help Future stems from the concern that the RIL-Future deal may significantly increase the competition for Amazon, which has bet big on the Indian market.(Reuters)

Amazon open to help out Future Group

By Anirudh Laskar | Hindustan Times, Mumbai
UPDATED ON OCT 23, 2020 04:27 AM IST
They said Amazon, which holds a 49% stake in Future Coupons Pvt. Ltd, had earlier informally helped Kishore Biyani-founded Future Group get new strategic partners and large institutional investors to help it with its debt crisis. Both people spoke on condition of anonymity.
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Amazon agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail Ltd. after a period of between three and 10 years.(AP)
Amazon agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail Ltd. after a period of between three and 10 years.(AP)

Indian partner Future Group broke pact after Ambani sale deal, says Amazon

By Bloomberg | Posted by Shivani Kumar
UPDATED ON OCT 08, 2020 02:09 PM IST
Amazon agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail Ltd. after a period of between three and 10 years.
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Reliance owner Mukesh Ambani.(HT file photo)
Reliance owner Mukesh Ambani.(HT file photo)

Reliance to use Future deal to get edge in FMCG space

By Suneera Tandon | Livemint, New Delhi
UPDATED ON SEP 11, 2020 09:59 AM IST
The Future Group deal has given Reliance a 27% share of India’s organized grocery retail market worth about $544 billion.
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Mukesh Ambani, chairman and managing director of Reliance Industries, attends the World Economic Forum (WEF) meeting in Davos, Switzerland.(REUTERS)
Mukesh Ambani, chairman and managing director of Reliance Industries, attends the World Economic Forum (WEF) meeting in Davos, Switzerland.(REUTERS)

Ambani’s Reliance buys stake in Future Group for Rs 24,713 crore

By Press Trust of India | Posted by Arpan Rai | New Delhi
UPDATED ON AUG 29, 2020 09:20 PM IST
Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries Ltd will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group.
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The estimated deal value includes the liabilities of Future Group that Reliance plans to absorb, the people said on condition of anonymity.(Reuters file photo)
The estimated deal value includes the liabilities of Future Group that Reliance plans to absorb, the people said on condition of anonymity.(Reuters file photo)

Reliance Industries Ltd may buy Future Group’s retail biz for 27,000 crore

By Suneera Tandon, Deborshi Chaki | LiveMint
UPDATED ON JUL 28, 2020 07:19 AM IST
Five listed entities, including Future Retail Ltd, Future Consumer, Future Lifestyle Fashions, Future Supply Chain and Future Market Networks, will be merged into Future Enterprises Ltd (FEL) before the sale of the assets, the people said on condition of anonymity.
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A shopper walks through an aisle displaying personal care goods at a Big Bazaar hypermarket, operated by Future Retail Ltd. in Mumbai(Bloomberg File Photo)
A shopper walks through an aisle displaying personal care goods at a Big Bazaar hypermarket, operated by Future Retail Ltd. in Mumbai(Bloomberg File Photo)

Reliance, Samara eye Future’s assets

By Deborshi Chaki and Swaraj Singh Dhanjal | Mint, Mumbai
UPDATED ON JUN 11, 2020 07:42 AM IST
While Samara is eyeing a stake in Future Retail, a possible deal with Reliance could also involve the group’s apparel retail business Future Lifestyle Fashion Ltd, a person aware of the development said.
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Future Retail has a network of more than 1,500 stores across various formats including 293 BigBazaar stores.(Photo: Mint)
Future Retail has a network of more than 1,500 stores across various formats including 293 BigBazaar stores.(Photo: Mint)

Amazon, Future group deal to intensify competition in India’s retail sector

By Swaraj Singh Dhanjal | Livemint, Mumbai
UPDATED ON AUG 23, 2019 12:30 PM IST
American e-commerce giant Amazon’s investment Kishore Biyani’s group company Future Coupons will add to the intensity of competition in the Indian retail sector, which now has three big groups fighting it out - Amazon and Future, Walmart-Flipkart and billionaire Mukesh Ambani’s Reliance Retail.
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