Future Retail staff approached SC: Permit asset sale in FRL-Amazon case

Future Retail staff approached SC: Permit asset sale in FRL-Amazon case

24 November 2021, Mumbai:

Employees of debt-ridden Future Retail (FRL), the parent of the supermarket chain, Big Bazaar, have asked the Supreme Court to clear the company's asset sale to Reliance Retail and rule against US e-tailer Amazon.

The employees cited the risk of job losses for around 27,000 people and financial difficulties showed a November 20 legal filing reviewed by TOI.

Singapore arbitrator rejects Future Retail plea to vacate stay on RIL deal  | Business Standard News

"Between April-July 4 2020, the salaries of employees saw significant cuts, in the range of 40-50% Further, even the reduced salaries could not be paid on time and payments were often made in tranches, '' said the FRL. Employee Welfare Association in the filling, which is likely to be heard by the apex court on December 8.

TOI

(The news article has not been edited by DFU Publications staff)

Supreme Court of India : fair or biased - iPleaders

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

 

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India, Noida

 

Return to homepage

Author’s Posts