According to the regulator, certain contraventions by Amazon arise from a "deliberate design on the part of Amazon to suppress the actual scope and purpose of the combination and the Commission finds no mitigating factor".
Supreme Court has stayed Delhi HC proceedings on enforcement of Emergency Arbitrator's award restraining FRL from going ahead with merger deal with Reliance Retail.
Amazon acquired 49 per cent stake in Future Coupons which is a promoter group entity of Future Retail. Amazon argues that Future's deal with Reliance Retail is invalid and violation of its 2019 agreement.
Future Group promoter Kishore Biyani has alleged that Amazon is "playing the dog in the manger" and trying to create a confusion about the group's Rs 24,713-crore deal with Reliance Industries.
Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court.
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries Ltd for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold.
US online retailer Amazon.com Inc has slapped a legal notice on Future Group, alleging that the retailer's Rs 24,713 crore asset sale to Reliance Industries violated an agreement with the e-commerce giant.
With Future Retail takeover Reliance Retail now consolidated its position in Retail Space. Now Reliance Retail has entered into Upmarket, Metro and Malls. Future Retail has a good presence in these areas.
Industrialist Mukesh Ambani's Reliance Industries Ltd on Saturday announced the acquisition of Future Group businesses for Rs 24,713 crore to add to its fast-expanding retail business and bolster e-commerce to take on the competition from Amazon.com.
Kishore Biyani-led Future Group on Friday said it is investigating the "rumours" regarding its financial abilities, a list of lenders and debt numbers circulating on social media that have led to hammering of stock prices of its listed entities.
E-commerce giant Amazon and Kishore Biyani's Future Retail are nearing a deal in which Amazon.com will pick up 10 per cent shares in the latter. Future Retail operates its flagship Big Bazaar grocery chain which may join forces with Amazon in case the deal is sealed. This will be advantageous to Amazon as it is looking to solidify its presence in brick and mortar shops in India which is one of the fastest growing retail markets of the world.
The Initial Public Offering, which will be open for three days, will see the company issue up to 98 lakh equity shares at a price band of Rs 660-664 apiece.
New Delhi: Future Group's Chairman Kishore Biyani, who stepped down as the managing director of Future Retail, has been appointed as the managing director of Bharti Retail as part of the reconstitution of the board
New Delhi: Kishore Biyani-led Future Group said on Friday it has entered into a marketing partnership with Baba Ramdev-led Patanjali Ayurved to sell its products and expects to do business worth Rs.1,000 crore in the
New Delhi: Kishore Biyani-led Future Group has entered into a marketing partnership with Baba Ramdev-led Patanjali Ayurveda to sell its products and expects to do business worth Rs.1,000 crore in the next 20 months. "We will
New Delhi: Competition commission has given a green light to the proposed Rs 750-crore multi-tier merger deal between Future Group and Bharti Retail.The transaction, a major consolidation in the Indian supermarket business, would create a
New Delhi: In a major consolidation between two homegrown retailers, Kishore Biyani-led Future group will hive off its retail business to merge with Bharti Retail.The board of Future Retail, at its meeting held on Monday,
Mumbai: The Kishore Biyani-led Future Group on Monday applied for a payments bank licence with the Reserve Bank of India, the banking entity to be called NuFuture Payments Bank, the group said.The proposed payments bank
New Delhi: SBI Card has launched a co-branded credit card with Fashion at Big Bazaar (fbb), the fashion destination of the Future Group, offering 10 per cent discount on fashion apparel.The co-branded Styleup Card will
New Delhi: Kishore Biyani-led Future Consumer Enterprise (FCE) has acquired convenience stores chain Nilgiris from UK-based private equity firm Actis. The deal is valued between Rs 175 crore and Rs 200 crore.FCE has acquired 97.97
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