India’s capital market regulator on February 3 barred Future Group CEO Kishore Biyani from accessing the securities market for a year after its investigation revealed insider trading in shares of its retail unit in 2017.

RIL has been building up omnichannel play with JioMart, which coupled with Future Group’s offline muscle, could build a formidable opponent for incumbents in the e-commerce segment.

RIL has been building up omnichannel play with JioMart, which coupled with Future Group’s offline muscle, could build a formidable opponent for incumbents in the e-commerce segment.

In the order issued on September 28, the NCLT asked the Future Group to propose a suitable date to hold the extraordinary general meeting (EGM) of the shareholders and creditors to seek their approval for the sale of its assets to Reliance Retail for a consideration…

The CCI order says Amazon misrepresented the true rationale for buying 49 percent stake in Future Coupons. The US e-commerce giant’s internal correspondence shows that it wanted foot in the door in the Indian retail sector, according to the competition watchdog.

Effectively, the Competition Commission of India has reduced Amazon to ground zero in its pursuit to having a ‘foot-in-the-door’ by acquiring strategic rights over Future Retail Limited.

The bench headed by high court’s chief justice was hearing an appeal filed by Future group after the Kishore Biyani-led companies faced a setback before a single-judge bench.

The legal battle between Amazon and Future began back in 2020 when Amazon invoked arbitration after Future Retail announced its asset sale deal with Reliance Industries Ltd’s wholly owned subsidiary, Reliance Retail.

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.

Private equity funds Premji Invest and True North amongst potential suitors for the residual stake sale plans of Future Group in both the general and life insurance joint ventures

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.

Reliance has been making job offers to employees of the stores, which will ensure continuity for nearly 30,000 workers of Future Group's retail network.