Kishore Biyani wanted to learn how Tirupati temple authorities handle the huge influx of devotees and apply those lessons to his own business.
It noted that the CCI order keeping its approval for Amazon-FCPL deal in abeyance did not render arbitration proceedings unnecessary or impossible.
The apex court has asked the SIAC tribunal to consider the Future group's application, seeking termination of the proceedings under the provisions of the Arbitration and Conciliation Act
The apex court was hearing Amazon's plea seeking to restrain Future Retail from alienating its retail assets until the arbitration between the US-based e-commerce giant and the Future group concludes
Amazon has filed an application for the protection of Future Retail's shops and assets from being taken over during the pendency of the legal dispute between the two parties
In a one-of-its-kind move, the CCI kept in abeyance its approval for the 2019 investment deal on the grounds that Amazon had not divulged its real intention with respect to the investment deal with Future Coupons.
Amazon presses for resumption of arbitration proceedings and asks Supreme Court to grant interim relief against transfer of Future Retail's assets to Reliance
Tells Supreme Court it will not initiate criminal proceedings against Future as reported by the media.
Reliance Retail has started to take possession of the premises in which Future Retail is operating its stores such as Big Bazaar and replaced them with its brand stores, said sources close to the development.
The Delhi High Court had in January stayed the arbitration proceedings between Amazon and Future Group that were going on before the SIAC-governed tribunal on the basis of CCI's suspension of approval
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.
Asking the parties to file their replies within a period of ten days, the NCLAT fixed the next date of hearing for February 2.
The demand indicates heightened scrutiny of a deal which is at the heart of legal battles between Amazon and Future after the Indian company decided to sell its retail assets to rival Reliance Industries for $3.4 billion in 2020.
Big Bazaar aims to get about 35-40 percent of its business through deliveries in the next six months.
Share of Reliance Industries has more than doubled from the March lows and has risen more than 40 percent so far in the year 2020.
Future Retail Ltd missed paying $14 million (approx Rs 105 crore) interest due on its offshore bonds worth $500 million due in 2025.
D-Mart has started handing out colour-coded coupons to customers to prevent crowding at the stores
Big Bazaar’s Republic Day sale offering ‘Sabse Saste 5 Din’ has started. It will be valid from January 22 and end on January 26
The e-commerce platform is likely to tap the group's strong physical store network for its Amazon Now project
Big Bazaar currently fulfills 300 to 1,000 orders daily for Amazon in New Delhi, Mumbai and Bengaluru and the company plans to expand this service to 12 cities.
The Chandigarh consumer forum has slapped fines for the same or similar offence on several other stores also in the past
Indian consumers are not accustomed to round the clock shopping, except in a few locations. Many states don’t allow it either. Since this forms the cornerstone of 7-Eleven’s business model, is it making a mistake?
Initially, the company expects to open 250-300 Easyday stores in the next couple of years
Given the series of restructuring steps taken by Kishore Biyani lately, it may take a while for earnings to catch up with the valuation.
Future Retail has reported an over two-fold jump in its standalone net profit at Rs 148 crore for the quarter ended June 2017 (Q1FY18) on account of higher income. It posted a net profit of Rs 71 crore during the April-June quarter of FY17.