Future Retail Ltd (FRL) on Tuesday said it will explore all legal remedies to pursue its Rs 24,713-crore deal with RIL following a Delhi high court order directing status quo to be maintained till the court pronounces its order. Earlier in the day, a Delhi high court bench of Justice J R Midha directed FRL to maintain status quo in relation to its deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Amazon welcomed the latest court directive.
The Supreme Court on Thursday said it will hear on July 20 the Amazon plea against the Delhi high court verdict which stayed the directive by its single-judge and paved the way for the multi-billion dollar deal to amalgamate Future Retail Ltd (FRL) with Reliance Retail. A bench of Justices R F Nariman, K M Joseph and B R Gavai was informed by senior advocate Harish Salve, appearing for the Future group, that a Singapore tribunal will commence hearing on the issue from July 12 and requested that the proceedings on the appeals be adjourned for a week. Senior advocate Gopal Subramanian, appearing for the US-based e-commerce giant, said he had no problem if the hearing on the appeals was adjourned by a week, as they will be busy next week before the tribunal.
Elections for 19 Rajya Sabha seats spread across eight states will be held on Friday with the contest in Gujarat, Madhya Pradesh and Rajasthan promising to be a close affair between the BJP and the Congress.
In a letter to the Prime Minister, the Women of Big Bazaar SOS group said: "Future Retail and Reliance had entered into an arrangement through which Future's retail stores will continue to be operated by Reliance. Reliance has also committed to clear all debts and dues owed by Future Retail to suppliers and vendors."
The chief minister of Meghalaya had met Shah late on Friday night urging the Central government to implement Inner Line Permit in the state.
The Delhi high court's division bench has stayed the single bench order favouring the emergency award against the Future-Reliance deal and imposing a Rs 20 lakh fine on Kishore Biyani & other respondents. including FRL and FCPL.
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it's more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
The government has introduced the Hi-Tech Products Export Promotion Scheme. However, the list of the products that will benefit from the scheme is yet to be announced.
The Delhi high court on Thursday upheld the Singapore Emergency Arbitrator's (EA) order restraining Future Retail Ltd (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-commence giant Amazon.
Japan could soon be the second country after the US with which India has a logistics support agreement. Besides the LSA, India and Japan may also sign a maritime domain awareness agreement which would enable the two navies to share information. For example, if a Japanese P-1 maritime patrol aircraft detects a Chinese submarine in the Indian Ocean, it would pass on the information to the Indian Navy, reveals Ajai Shukla.
The Congress, which emerged as the single largest party, got the maximum number of 14 cabinet portfolios, while six were made ministers of state.
Cosmetologist Aditi Rajpure lists out five butt problems and their solutions
Polling for three parliamentary seats and 29 assembly constituencies were held on October 30, an exercise being seen as a barometer of the political mood in the country ahead of assembly elections in politically critical Uttar Pradesh as well as other states.
The oldest candidate contesting the election to the 40-member Mizoram assembly to be held on November 25 was the present Revenue Minister J. H. Rothuama (74) from Champhai North seat while the youngest candidate was Pazawna (27) of the BJP contesting from Mizoram-Tripura border Hachhek seat.
Veteran Congress leader Digvijaya Singh and Bharatiya Janata Party candidates Jyotiraditya Scindia and Sumer Singh Solanki on Friday won Rajya Sabha election from Madhya Pradesh.
With an eye on beefing up maritime security, India is negotiating a deal with 24 countries for exchange of neutral merchant shipping data as it rolls out a national hub to tackle all aspects of coastal security to prevent another 26/11-like attack.
The BJP, which has two MLAs in the MDA government, backed the Cabinet decision.
Vietnam is a key player in India's act east policy under Prime Minister Narendra Modi. From India's perspective, a strategic partnership with Vietnam will only deepen political, economic, and security ties and be a bulwark against China, say Melissa S Hersh and Dr Ajey Lele
'Mallya has offered to pay the original amount.' 'Let us say he means the principal amount and that stands at Rs 5,000 crores.' 'The Indian banks have to ask themselves if they would rather have this 5,000 crores or would have none of it at all,' asks Sudhir Bisht.
Top seed Somdev Devvarman struggled past Ramkumar Ramanathan, who was troubled by cramps, but Yuki Bhambri made a fluent start with a straight sets victory in the US$ 50,000 ATP Challenger event, in Chennai.
Riding on three back-to-back victories, Grandmaster Abhijeet Gupta emerged as the best performing Indian as he finished seventh in the Al Ain Classic International chess tournament that concluded in Al Ain (UAE) on Saturday.
Swamped by Korean films dubbed in Mizo language, the film industry in Mizoram hopes that whichever party comes to power after polls should allocate more funds for its development.
Maldivian Vice President Ahmed Adeeb was on Thursday impeached by the Parliament overwhelmingly over an alleged attempt to assassinate President Abdulla Yameen and faces terrorism charges as lawmakers approved state of emergency in the island that has sparked concerns globally.
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