Business Standard Future Group

Future group sees its biggest crisis after raising high cost loans from pes and pledging shares.

Business standard future group. Click here to read full report among individual stocks future retail slipped 9 per cent to rs 70 55 on the bse in intra day trade. Read more about future group arm defaults on debt repayment of rs 22 cr due september 5 on business standard. Earlier on august 29 2020 the future group had announced sale of its retail wholesale and logistic etc to reliance retail ventures limited the retail arm of the reliance industries.

The competition commission has approved reliance s proposed acquisition of retail wholesale logistics and warehousing businesses of future group the rs 24 713 crore deal that would boost reliance industries fast growing retail business was. Business standard reported quoting sources. Read more about competition watchdog clears reliance future group deal in setback to amazon on business standard.

The future group firm has contended that amazon is misusing the interim order passed by an emergency arbitrator of the singapore international arbitration centre siac on october 25 2020. Read the latest news and updates on future group future retail future group future retail information at business standard. Read more about future retail moves hc seeking relief against siac stay order on ril deal on business standard.

Retail king of india faces litmus test as debt soars on business standard. Future group is an indian conglomerate company founded by kishore biyani headquartered in mumbai maharashtra india the company is known for having a significant prominence in indian retail and fashion sectors with popular supermarket chains like big bazaar and food bazaar lifestyle stores like brand factory central etc. Reliance retail ventures limited rrvl a subsidiary of mukesh ambani owned reliance industries ltd today announced that it is acquiring the entire retail wholesale logistics and warehousing businesses from the future group as a going concern basis for a total consideration of rs 24 713 crore.

In a regulatory filing the company said it has been unable to service its obligations towards payment of principal redemption and interest due on september 5 2020. Future has been told not to proceed with its sale of shares to ril till the outcome of the arbitration process.