Amazon vs Future: SC stays all HC proceedings; to hear matter itself
A Supreme Court bench of justices Rohinton Fali Nariman, Hrishikesh Roy and BR Gavai granted the stay on a plea filed by Amazon, which challenged the March-22 order passed by a division bench of the Delhi High Court
BusinessToday.In | April 19, 2021 | Updated 14:58 IST
The division bench had stayed the Delhi HC single judge order, which directed to attach promoter Kishore Biyani and Future group s assets
The Supreme Court (SC) on Monday put a stop on all proceedings related to the Amazon-Flipkart case in the Delhi High Court. It has decided to hear the entire case itself and will begin the final hearing in the case on May 4. A Supreme Court bench of justices Rohinton Fali Nariman, Hrishikesh Roy and BR Gavai granted the stay on a plea filed by Amazon, which challenged the March-22 order passed by a division bench of the Delhi High Court.
Future Retail finalises debt restructuring plan; to seek Kamath panel approval
The company said that the debt restructuring was necessitated due to the disruptions caused by COVID-19 which led to cash flow not being able to bear the debt burden
BusinessToday.In | April 18, 2021 | Updated 17:53 IST
Future Retail announced that its board of directors has approved a resolution plan for restructuring the company s existing debt in line with the resolution framework sanctioned by the Reserve Bank of India (RBI) to alleviate COVID-19-related stress. The Kishore Biyani-led retail arm further added that certain non-convertible debentures (NCDs) will also be part of the restructuring exercise. The company is now awaiting approval from the KV Kamath committee.
Will defend : Future after Amazon moves SC against Delhi HC stay order
Future says it has received a communication dated April 13, 2021, that Amazon has filed a Special Leave Petition before the SC against the Delhi HC division bench
BusinessToday.In | April 14, 2021 | Updated 16:06 IST
Amazon CEO Jeff Bezos and Future group promoter Kishore Biyani
The fight between Amazon and Future Retail will now take place in India s Supreme Court. Future Retail has said it will defend the matter/proceedings through legal counsels after Amazon approached the Supreme Court against a Delhi High Court order that stayed a single judge s order restraining Kishore Biyani-led retail chain from going ahead with its Rs 24,713 crore deal with Mukesh Ambani-led Reliance Retail.
Amazon warehouse workers in Alabama vote against unionisation
According to the latest unofficial tally, 1,798 voted against forming a union, with 738 ballots in favor. A simple majority is needed for victory, but both sides have the right to challenge the eligibility of ballots
Reuters | April 10, 2021 | Updated 18:03 IST
Amazon shares rose 0.8% Friday, adding to earlier gains
Efforts to unionize Amazon.com warehouse workers in Alabama were defeated on Friday by a more than 2-to-1 margin in a major win for the online retailer, but the union trying to organize workers was set to challenge the results, assailing the company s methods.
According to the latest unofficial tally, 1,798 voted against forming a union, with 738 ballots in favor. A simple majority is needed for victory, but both sides have the right to challenge the eligibility of ballots. Counting concluded and would next focus on adding up challenges and voided ballots but the margin of victory may be too much to chan
Future Retail-Reliance deal gets SEBI approval, Amazon says it will continue to fight legally
PTIJan 21, 2021, 08:17 IST
BI India/BCCL
Future Group s scheme of arrangement and sale of assets to
Reliance, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal.
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. The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August.