But Future group says Amazon failed to provide any help to debt-laden company that suffered a massive setback during COVID-induced lockdown. Amazon, on the other hand, says there were ongoing discussions on multiple options with partners and with the promoters of Future

Citing the low interest rate environment and tough market conditions, HSBC ditched its goal of achieving a return on tangible equity of 10 to 12%, and said instead it will aim for 10% over the medium term

Earlier in the day, the apex court had allowed the NCLT, Mumbai to continue with the proceedings but asked not to pass a final order on the amalgamation of Future Retail Ltd (FRL) with Reliance Retail

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After demerger, holding company RIL will have upstream exploration and production business, financial services, treasury and textile business, while RIL O2C Ltd will have an oil-to-chemical business comprising refining and petrochemicals, fuel retail, and control over global subsidiaries of RIL

Amazon's strategy behind the joint ventures was to boost sales indirectly; the e-commerce giant removed the products sold by Cloudtail and Appario from the platform in 2019

Amazon has also asked for restraining Future Retail from taking any steps to further the deal with Reliance until the final award is granted in the Singapore arbitration

Kishore Biyani-led homegrown retailer claimed in a submission to the emergency arbitrator that Abhijeet Mazumdar, head of corporate development and private investments at Amazon made a verbal offer to Future Group promoter on behalf of the e-tailer

The tribunal further stated that Amazon should not be a perpetual objector. It heard Future Group's appeal to convene a shareholder meet

Share of Future Group firm Future Retail gained 9.84% to Rs 80.40 on BSE. The stock has gained after 4 days of consecutive fall

The Delhi High Court passed the interim direction on Future Retail's appeal challenging the February 2 order of the single judge, who had blocked Future Group's deal with Reliance Industries

On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon

Stocks to watch today on February 3: Tata Consumer, V-Mart, Infosys, Future Retail, JSW Energy, Tata Motors among others are the top stocks to watch out for in Wednesday's trading session

Biyani said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance

Reliance earlier stated that Reliance Retail Ventures (RRVL), the holding company of its retail businesses, intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay

Competition Commission of India is expected to look into the overlap of retail assets and businesses in common localities belonging to Reliance and Future Group

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Reliance Industries (RIL), through its subsidiary Reliance Retail, will aquire the retail & wholesale business and the logistics & warehousing business from the Future Group on a slump sale basis for Rs 24,713 crore

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