Amazon Accused of Concealing Facts in Future Group Deal by CCI

Amazon Accused of Concealing Facts in Deal for Future Group Unit by CCI

India’s antitrust regulator has accused Amazon of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the US e-commerce giant seen by Reuters showed. The letter complicates Amazon’s bitter legal battle with Future Group over the Indian’s firm’s decision to sell its … Read more

Amazon Commits $250 Million for India’s Small Businesses

Amazon Commits $250 Million for India

Amazon commits $250 million (roughly Rs. 1,860 crores) for India’s small businesses as traders question practices Amazon on Thursday announced a $250 million (roughly Rs. 1,860 crores) venture fund for India, focused on bringing the country’s small businesses online, as the company comes under fire from local retailers. The new fund will focus on the … Read more

Future Retail to Offer Quick Online Deliveries in Bet on E-Commerce

Future Retail to Offer Quick Online Deliveries in Bet on E-Commerce

Future Retail will deliver groceries and clothes from its main retail stores within two hours, it said, as the company expands in an e-commerce sector dominated by the likes of Amazon. There are 285 Big Bazaar outlets in India. Future, the country’s second-largest brick-and-mortar retailer, has only had small e-commerce presence so far, but plans … Read more

Future Group Chief’s Personal Assets Sale Restraint Dropped Amid Amazon Fight

Future Group Chief Kishore Biyani’s Personal Assets Sale Restraint Dropped Amid Amazon Fight

A court put on hold an order restraining Future Group chief Kishore Biyani from selling personal assets, amid legal challenges to the group’s $3.4-billion (roughly Rs. 24,610 crore) retail deal. The legal fight over Future’s assets has embroiled two of the world’s richest men, Jeff Bezos of US e-commerce giant Amazon and Mukesh Ambani of Indian … Read more

Future Group Retrained from Selling Assets in Rs. 24,713-Crore Reliance Deal

Future-Reliance Deal: Delhi High Court Restrains Sale of Assets on Request from Amazon

The Delhi High Court Thursday upheld the Singapore Emergency Arbitrator’s (EA) order restraining Future Retail (FRL) from going ahead with its Rs. 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon. Justice J R Midha directed Kishore Biyani-led Future Retail not to take further action in … Read more