Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
'New bunch, new guys with a lot of excitement and energy'
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
Incubated for over three years, the OnePlus 5 comes with a Snapdragon 835 processor.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
'There is a lot of money coming into the business, people are consuming a lot of content, there is no dearth of new films and shows coming out of India and being available worldwide.'
'If the South starts shooting on IMAX more, it will be beneficial. And likewise, it will benefit Bollywood directors.'
Blockbusters of the year, serial killer of Bollywood movie critics, goth teen queens discovering psychic powers and Groot in holiday mood, it's all there on OTT this week.
A day after getting permission to raise its Unified Payments Interface (UPI) user base to 100 million, WhatsApp on Thursday said it has plans to make significant investments in 'payments on WhatsApp' across India, including India-first features and driving adoption. The company, however, did not share details of its plans. The Meta-owned messaging app got its first greenlight for its payments service from the National Payments Council of India (NPCI) in November 2020 with a cap of 20 million users. A year later, in November 2021, the limit was raised to 40 million users.
SoftBank-based e-commerce marketplace Snapdeal has deferred its Rs 1,250 crore IPO, joining the list of startups that have decided to shelve their initial public offering (IPO) plans this year. Snapdeal, which competes with Amazon and Flipkart, filed a request this week with the Securities and Exchange Board of India (Sebi) to withdraw its draft red herring prospectus (DRHP) amid a sell-off in tech stocks worldwide. "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions," a Snapdeal spokesperson said.
Sara Ali Khan says she is proud to portray a character that echoes 'bravery and courage' in her upcoming movie, Ae Watan Mere Watan.
As of December 2021, Netflix India stood at an estimated 5 million subscribers against 46 million for Disney+Hotstar and 19 million for Amazon Prime Video.
Promising new seasons of beloved shows, provocative stories and action packed dramas, Sukanya Verma says it's all there on OTT this week.
Will open radio access network technology (O-RAN) disrupt the way 5G networks roll out in the country? After all, it promises to offer a substantially lower capital cost, enables the choice of an array of vendors, and provides more network flexibility - all very important for telcos who expect to invest over Rs 60,000 crore to roll out a pan-India 5G network and that's without spectrum costs. But more importantly, it counters the stranglehold of global telecom gear makers such as Ericsson, Nokia, and Samsung over telcos to whom they sell propriety technology and bundled hardware and software.
For those who enjoy stand up comedy, Comicstaan 3 makes amusing viewing, enough to lift the monsoon gloom, applauds Deepa Gahlot.
Deepa Gahlot lists 10 popular family shows and films streaming on various platforms.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
It all started with Flipkart and Amazon trying to outdo each other - after Flipkart announced $1-billion fund-raising in July.
'The real India lives in the villages where everyone is trying to improve the other.'
One needs to charge the device every four days, which can provide over 65,000 blood readings and counts.
Even as our tier-2 and tier-3 cities become increasingly well-mapped, and well-documented through myriad tech-driven data, the Indian film-maker's dominantly urban gaze turns to regions not crowded by data, area codes, or directions, observes Debarghya Sanyal.
Rajesh Pratap Singh probably had his tongue firmly in cheek when he showcased his hospital-ward-on-the-runway collection.
Because summer is already upon us!
Vaani Kapoor made a stunning entry at the Amazon Fashion Week Autumn Winter 2017.
Detectives, superheroes, biopics, documentaries, it's all there on OTT this week. Sukanya Verma offers some suggestions.
As 2022 draws to a close, a lot of movies and Web series are readying for release.
The second season of Raj and DK's popular Web series will now be aired in June!
This is all you need for your summer fashion fix.
Microsoft chairman and CEO Satya Nadella on Tuesday said there is a tremendous momentum in cloud adoption, as he termed cloud a "big game changer". Nadella, who is currently in India, addressed Microsoft Future Ready Leadership Summit in Mumbai on Tuesday. He is also scheduled to visit Delhi and Bengaluru this week, and will be meeting key customers, startups, developers, educators and students during his India visit.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
The company has pointed at the possibility of fines and financial penalties.
Jubilee's irresistible celebration of cinema and all its good, bad, ugly ways lives up to its title, applauds Sukanya Verma.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
E-commerce firms like Amazon, Flipkart, Myntra and others witnessed successful festive season sales this year, Experts say e-commerce adoption in the country is accelerating by multiple years or what it would have looked like in 2025.
According to eBay, the percentage of transactions during the festival season declined marginally in Delhi, Mumbai, Bengaluru and Chennai.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
Deepa Gahlot lists 10 gangster thrillers on OTT for those who have the stomach for gaalis and gore.
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