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On an aggregate basis, Future Group owes around $3 billion in loans and lenders are trying to figure out a way to ensure the least possible hit on asset quality.(Mint)

FRL lenders clear recast, await Kamath panel nod

By Shayan Ghosh, Hindustan Times, Mumbai
UPDATED ON APR 19, 2021 12:36 AM IST
A group of 28 lenders approved extension of loan repayment period by up to two years.
Prime Minister Narendra Modi on Monday outlined that the country now has to step out from an import-dependent status and fast track its defence manufacturing capabilities. (PTI Photo)(PTI)
Prime Minister Narendra Modi on Monday outlined that the country now has to step out from an import-dependent status and fast track its defence manufacturing capabilities. (PTI Photo)(PTI)

News updates from HT: PM Modi urges bolstering of indigenous defence manufacture

By hindustantimes.com, Hindustan Times, New Delhi
UPDATED ON FEB 22, 2021 01:00 PM IST
Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times.
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.
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.

Future Group creditors scramble to recover $2.5 billion loans

Reuters |
PUBLISHED ON FEB 16, 2021 02:03 PM IST
  • Future, India's No.2 retailer with more than 1,700 stores, has been hit hard by the pandemic and agreed to sell most of its retail assets to Mukesh Ambani-led Reliance in a $3.4 billion deal. The transaction, however, has faced legal hurdles with e-commerce giant Amazon.
A man walks inside the Big Bazaar retail store in Mumbai, India. (Reuters)
A man walks inside the Big Bazaar retail store in Mumbai, India. (Reuters)

Advantage Future Group as HC lifts stay on Reliance deal

By Richa banka, New Delhi
PUBLISHED ON FEB 09, 2021 02:16 AM IST
The judges rejected a plea by Amazon to keep its order in abeyance for a week, and said they saw no reason to maintain status quo on the Future Retail assets.
The decision comes even as Biyani’s sale of his businesses to Mukesh Ambani’s Reliance Retail is facing legal challenges from Amazon.com Inc.(Mint)
The decision comes even as Biyani’s sale of his businesses to Mukesh Ambani’s Reliance Retail is facing legal challenges from Amazon.com Inc.(Mint)

Biyani barred for one year on insider trading charges by Sebi

By Anirudh Laskar, Livemint, Mumbai
PUBLISHED ON FEB 04, 2021 06:53 AM IST
Biyani, a pioneer of Indian retail, has also been barred from transacting in securities of Future Retail for two years.
Over the past six weeks, the digital business of Ambani’s Reliance Industries Ltd, known as Jio Platforms, raised a striking $10 billion from global investors.(Bloomberg)
Over the past six weeks, the digital business of Ambani’s Reliance Industries Ltd, known as Jio Platforms, raised a striking $10 billion from global investors.(Bloomberg)

Sales to normalise by Jan-end, getting orders from Jio Mart: Kishore Biyani

PTI | , New Delhi
PUBLISHED ON JAN 10, 2021 02:57 PM IST
Future Group companies and the promoters together have a debt of over 20,000 crore.
Future Group Founder and CEO Kishore Biyani does not expect any hurdle after the order of the Delhi High Court which has directed the regulators to take an independent call on the issue.(Hemant Mishra/Mint)
Future Group Founder and CEO Kishore Biyani does not expect any hurdle after the order of the Delhi High Court which has directed the regulators to take an independent call on the issue.(Hemant Mishra/Mint)

Amazon was fully aware of talks with RIL for sale of retail assets: Future Group CEO Kishore Biyani

New Delhi | By Press Trust of India | Posted by Deepali Sharma
PUBLISHED ON JAN 05, 2021 04:17 PM IST
He hinted that the arbitration and the process of completion of the Rs 24,713 crore-deal with Reliance Retail Ventures Ltd (RRVL), subsidiary of RIL would continue in parallel.
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

Livemint, New Delhi | By Livemint
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.
While Future group firms owe close to ₹16,000 crore to a clutch of banks and debt mutual funds, Future group founder Biyani owes an additional ₹11,000 crore to several lenders.(Reuters)
While Future group firms owe close to ₹16,000 crore to a clutch of banks and debt mutual funds, Future group founder Biyani owes an additional ₹11,000 crore to several lenders.(Reuters)

Amazon’s legal suit prolongs wait for lenders to Future group

Livemint | By Kalpana Pathak & Jayshree P Upadhyay
UPDATED ON OCT 19, 2020 06:09 AM IST
Amazon has cited a clause in the company’s 2019 investment pact in Future Coupons Ltd that specifically bars the Future group from forging a pact with Reliance Industries, Mint reported on 16 October.
Kishore Biyani’s debt-related troubles surfaced in March when shares of his listed companies crashed.(Mint Photo)
Kishore Biyani’s debt-related troubles surfaced in March when shares of his listed companies crashed.(Mint Photo)

Biyani eyes a lifeline from Blackstone to offload debt

Mint, Mumbai | By Deborshi Chaki and Swaraj Singh Dhanjal
PUBLISHED ON MAY 07, 2020 11:41 PM IST
Biyani’s debt-related troubles surfaced in March when shares of his listed companies crashed, triggering a rating downgrade of the promoter holding company and invocation of pledged shares by lenders.
Paytm plans to cash in on Amazon’s India distress.(HT Mint)
Paytm plans to cash in on Amazon’s India distress.(HT Mint)

Paytm plans to cash in on Amazon’s India distress

Bloomberg | By Saritha Rai
UPDATED ON FEB 16, 2019 06:25 PM IST
The new regime forbids retailers from holding any business interest in online merchants on their websites, exclusive arrangements and deep discounts.
An employee cleans a Snapdeal logo at its headquarters in Gurugram on the outskirts of New Delhi.(Reuters File)
An employee cleans a Snapdeal logo at its headquarters in Gurugram on the outskirts of New Delhi.(Reuters File)

Snapdeal posts Rs 4,647 crore net loss in 2016-17

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON APR 29, 2018 10:01 PM IST
The company’s total income also declined by 12.6 per cent to Rs 1,291.3 crore in FY2017 from Rs 1,478.2 crore in the previous year.
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