Reliance Industries has granted few new orders to Future Group firms, Future Consumer and Future Enterprises. This will be a big support for the cash-strapped future group firms before the completion of Rs 24,713 crore buyout of the country's second-largest retailer by Reliance Industries' arm. Future Group is conceptualizing two new brands that will offer products in multiple categories in fashion and FMCG. It recently opened a new Big Bazaar store in Palassio Mall in Lucknow while another store is being planned in Bihar.
The group is fully activating its offices as well as workspaces and all employees will be updated on the new work schedules, guidelines and various organisational announcements related to new leaders and teams, he said. Future Group had recently requested regulator SEBI to expedite the review of its proposed deal with Reliance and issue a no-objection certificate, while Amazon urged for the suspension of the review of the impugned transaction.
Amazon in its letter to Sebi said FRL's request for an injunction against the online firm has been rejected by the Delhi High Court, and that the court has held that the interim award by SIAC is valid under Indian law.