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US footwear major Skechers opens 6 lakh sq ft warehouse in Palava

American footwear giant Sketchers has opened a national distribution centre in Mumbai, India, as part of its expansion in the Indian market. The 6,00,000 sq ft facility at the Lodha Industrial and Logistics Park in Kalyan has been designed to streamline supply chain operations and can ship up to 60,000 units per day. The centre features innovative flooring for easy transportation and is the first phase of a partnership to develop a 1.1 million sq ft facility in Palava township. Sketchers entered India in 2012 and acquired full control of its joint venture in 2018.

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Updated on Dec 22, 2023 07:40 AM IST

This is why Mukesh Ambani's $3.2 billion Future Retail deal collapsed

Debt-laden Future Retail Ltd.’s offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100% payment in the rescue offer from billionaire Mukesh Ambani, according to people with knowledge of the matter.

File photo of Reliance Industries chairman Mukesh Ambani.
Published on Apr 26, 2022 05:00 PM IST
Bloomberg |

Reliance calls off 24,713 crore deal with Future Group. This is why....

In a regulatory filing, Reliance said Future Group companies comprising Future Retail Limited (FRL) and other listed companies involved in the scheme have intimated the results of the voting on the scheme of arrangement by their shareholders and creditors at their respective meetings.

Reliance Industries Ltd on Saturday said the transaction cannot go ahead as secured creditors of the latter have voted against it.(Reuters)
Published on Apr 23, 2022 06:15 PM IST

Amazon, Future agree to talks after SC nudge

The top court also refused to stay legal proceedings in the Delhi high court and NCLAT over Amazon’s objection to the ₹24,713 crore acquisition of Future Retail by Reliance Industries Limited.

The bench said this while dealing with an appeal filed by Amazon.com NV Investment Holdings LLC against an order passed by the Delhi high court staying the arbitration proceedings with Future Retail at the Singapore International Arbitration Centre
Published on Mar 04, 2022 12:17 AM IST
ByHTC and Reuters

Approach HC to go ahead with NCLT proceedings: SC to FRL

“We grant liberty to FRL (Future Retail Ltd) to approach the High Court by filing an application seeking continuation of the NCLT proceedings beyond the 8th stage (Meeting of Shareholders and creditors),” directed a bench, headed by Chief Justice of India NV Ramana.

The top court refrained from examining the rival contentions of Future and Amazon on the aspect of NCLT proceedings, and remanded the matter for adjudication by the high court.
Published on Feb 16, 2022 06:46 AM IST
By, Hindustan Times, New Delhi
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