FRL Will Take Back The Stores From Reliance’s Possession

FRL will take back the stores from Reliance’s possession, Future group assures in Supreme Court.

Future Retail Limited (FRL), a Future Group company, has said that it is committed to taking back its stores occupied by Reliance Retail.

In the information given to the stock exchanges, the company said that this move of Reliance Retail is shocking for us.

Not only this, but his move has also complicated the positive atmosphere created after the order of the Competition Commission of India (CCI) in December 2021.

In its statement, the company said that it and its board of directors are taking all possible steps to protect the interests of all the partners.

Reliance Retail had taken over 300 such stores of FRL last month, whose lease payments were not made by the company. Reliance Retail also hired its employees.

FRL told the stock exchanges that it has strong objections to this move of RIL. He has sent a notice to RIL asking him to withdraw all such steps during the last few days.

It may be mentioned that FRL had in August 2020 entered into a deal to sell most of its business to RIL.

American retail giant Amazon Inc opposed the deal, citing an investment made in 2019 in Future Coupons Ltd, a Future Group company.

Amazon has challenged the deal in various national-international forums and the matter is currently pending in the Supreme Court.

On Wednesday this week, the Supreme Court had said that it would next hear the matter on March 23 and pronounce some judgments.

In 2019, Amazon and Future became business partners when the US company invested $200 million in a unit of the Indian conglomerate.

Spicejet will start daily flights from Kushinagar to Delhi, know the full schedule

SpiceJet, the airline providing flight service to Delhi, will also provide air service from Kushinagar to Kolkata. The company is starting flights to Kolkata from March 27.

The Airports Authority of India has included it in the timetable of summer air services.

Along with this, the Kushinagar-Delhi flight service has been increased from six to seven days a week. Daily flights to Delhi are starting from this date.