Future Retail’s inability to pay off its debts to the bank is on account of the company’s inability to complete its small-format stores' asset monetisation due to injunctions orders passed by the arbitration tribunal in its dispute with Amazon.

At stake is the Rs 27,000 crore deal between Future and Reliance, which has been on the back-burner since 2020. Future group is trying to ensure the deal goes through, while Amazon is trying to secure its interests in the Future group.

The firm has pled that its deal to sell Rs 25,000 crore worth of assets to Reliance Retail is “virtually stalled” due to litigations across India, initiated by US-based e-commerce giant Amazon

The Kishore Biyani-led group had challenged orders of the Delhi High Court passed in February 2021 that directed for the enforcement of the emergency award and came down heavily on Biyani.

Future Retail's lenders told the court that the banks have nothing to do with either Amazon’s interests in Future Retail’s business or with the asset sale deal between Future Retail and Reliance

The top court’s intervention does not mean that the Future-Reliance deal can go through. Instead, it has set the clock back by a few months in this long-drawn legal battle.

So far Amazon and Catamaran jointly owned Prione Business Services whose wholly owned subsidiary Cloudtail India repeatedly came under the scanner for alleged violation of Foreign Direct Investment norms.

Though the company is yet to announce the price for the Galaxy M53 5G, it will likely fall in the sub-Rs 25,000 segment

The company is looking for people to work on a 'new-to-world smart-home product'

The social commerce space has been one of the sought out sectors as Flipkart’s social commerce arm Shopsy and Meesho have been garnering market share