Future rejects Amazon’s opposition over shareholders’ meeting on sale of assets

Kishore Biyani-led Future Retail Ltd (FRL) on Friday said the meetings of its shareholders and creditors next week to consider and approve the sale of its retail assets to billionaire Mukesh Ambani’s Reliance Retail are in compliance with the directions issued by the NCLT. Earlier this week, e-commerce major Amazon, which is contesting the Rs … Read more

Bank of India drags Future Retail to NCLT, files insolvency plea

Bank of India has filed a petition to initiate insolvency proceedings against debt-ridden Future Retail Ltd at the National Company Law Tribunal (NCLT). Earlier in April, Future Retail had reported a default of Rs 5,322.32 crore to its lenders over ongoing litigations with e-commerce giant Amazon and other related issues. “Bank of India (BoI) has … Read more