Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

Future Group challenges EA’s order restraining Reliance deal

  

Future Group has challenged the single judge’s order upholding the Singapore's 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. The Group filed the appeal through its advocate. Justice J R Midha had rejected all objections raised by Future Group and imposed a cost of Rs 20 lakh on the Future Group and its directors and directed them to deposit the amount in Prime Minister's Relief Fund within two weeks for being used for providing COVID-19 vaccination to senior citizens of Below Poverty Line (BPL) category of Delhi.

The High Court had also ordered attachment of their properties and asked them to file an affidavit detailing their assets as of today within one month. It had also asked them to show cause as to why they be not detained under civil prison for a term not exceeding three months for violating the emergency arbitrator's order and file reply within two weeks.

The single judge had held that the EA is an arbitrator for all intents and purposes and he had rightly invoked the 'Group of Companies' doctrine in relation to the Future Group companies.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Mall revenues to remain low despite rise in toplines: Crisil

Mall revenues to remain low despite rise in toplines: Crisil

     Ratings agency Crisil expects malls revenues to remain lower than their pre-pandemic levels despite a healthy rise expected in their toplines this fiscal . The report states, shopping malls' revenue... Read more

CMAI’s appeal against shutting down garment factories in Maharashtra

CMAI’s appeal against shutting down garment factories in Maharashtra

    The Clothing Manufacturers Association of India has appealed to the Maharashtra government not to hinder economic recovery by shutting down garment factories once more as it is the lifeline of... Read more

India’s yarn exports increase in February 2021 as fibre exports decline

India’s yarn exports increase in February 2021 as fibre exports decline

    In February 2021, India’s export of basic textiles comprising fibres, spun and filament yarns increased 24 per cent Y-o-Y to $822 million. As per a report by Textile Value Chain,... Read more

Recurrent lockdowns threaten apparel brands’ near term growth, profitability

Recurrent lockdowns threaten apparel brands’ near term growth, profitability

    Lockdowns continue to spell doom for clothing companies that witnessed business upsurge in January and February owing to ‘end of season sales’ and declining COVID cases. However, a report by... Read more

India’s Tier II, III beat Tier I cities in e-commerce growth: ICICI Securities

India’s Tier II, III beat Tier I cities in e-commerce growth: ICICI Securities

     The growth of e-commerce volumes in Tier II and III cities in India is outpacing that in Tier-I cities, says an ICICI securities report. As per the report, in Q4... Read more

With 16% CAGR till 2024, an impressive future awaits casual wear in India

With 16% CAGR till 2024, an impressive future awaits casual wear in India

  Not wishing to be governed by structures and definitions, the new generation is rewriting old rules of dressing. The generation is unpretentious in its clothing choices and prefers to dress... Read more

Data-focus helps Clovia optimize investments and control risks

Data-focus helps Clovia optimize investments and control risks

    One of India’s the premier lingerie brands, Clovia claims to have negligible rate of new product failure. The brand can launch new products with a high degree of confidence, affirms... Read more

E-com companies expect minimum impact from new restrictions

E-com companies expect minimum impact from new restrictions

     E-commerce firms expect Maharashtra’s new COVID-related restrictions to have minimal impact on their operations. As per Economic Times, the Maharashtra government ordered delivery and supply chain staff of e-commerce companies to... Read more

Eco-friendly denim gets a boost with new brands, materials

Eco-friendly denim gets a boost with new brands, materials

    Handcrafted jeans made from khadi are latest innovation in the denim industry. As per a report by the Apparel Resources, a 100 per cent swadeshi brand launched in 2016, Desitude... Read more

LFW reemphasizes the importance of storytelling in fashion

LFW reemphasizes the importance of storytelling in fashion

    The industry has to restart sooner or later, emphasized designer Payal Singhal at the recently concluded Lakme Fashion Week. For her, fashion weeks are a way to bring in new... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.