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US E-Com Giant Claims Rs 7,000 Crore Redirected From Biyani-Led Firm

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US E-Com Giant Claims Rs 7,000 Crore Redirected From Biyani-Led Firm

New Delhi: US e-commerce giant Amazon, trying to prevent Reliance chairman Mukesh Ambani from acquiring a struggling retail chain, fired another salvo by alleging significant financial irregularities at the company that leads Kishore Biyani. Amazon has also written to the independent directors of Future Retail (FRL) about the matter.

According to a report from Bloomberg, in the year ending March 2020, Future Retail transferred Rs 7,000 crore ($939 million) as a capital advance to a company controlled by its founder Biyani and as payment for goods and services purchased from the related company. company, Amazon said. in a letter seen by Bloomberg News.

Future Retail also created unusual rental deposits and made advances to suppliers worth a total of Rs 4,300 crore in the same year, even as the company collapsed and closed stores, Amazon claimed.

“Significant amounts may have been diverted from Future Retail,” Amazon said. By settling at least a portion of these transactions, Future Retail can “immediately repay partially outstanding debts to banks and creditors to ensure business continuity and survival,” it added.

The transactions were part of the public disclosures made by the company as part of standard governance practices, Future Retail’s representative said by email, adding that “nothing new is being exposed except false speculation being created from selective fragments.” An Amazon India representative declined to comment.

Amazon said in its Nov. 24 letter to the independent directors that FRL has consistently entered into “significant related party transactions” with several Future Group entities, including with Future Enterprises, Future Supply Chain Solutions, Future 7-India Convenience and others. , and that some of these related parties are predominantly dependent on FRL for their business. “…the members of the audit committee have expressed concerns about FRL’s financial management, including related party transactions, despite significant mobilization of equity and debt funds through December 2019 and January 2020.

“The audit committee also suggested an investigation be conducted by an independent third-party expert to find reasons for the increase in FRL’s debt,” Amazon said in its letter, a copy of which was reviewed by PTI.

The US giant also flagged a copy of its letter to Treasury Secretary Nirmala Sitharaman, the RBI governor, capital market regulator Sebi and other authorities seeking an investigation.

An investigation would further delay Reliance Industries’ planned acquisition of Future Retail from Mukesh Ambani, making it more difficult for him to expand his presence in the Indian retail market. Ambani and Amazon are engaged in a battle for dominance of the world’s largest market open to foreign competition, with the battle unfolding in courts in India and abroad, as well as the country’s regulators.

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When will season 3 of McDonald and Dodds be released on ITV?

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When will season 3 of McDonald and Dodds be released on ITV?

Filming for the third series of ITV’s McDonald and Dodds has officially started, and fans are already wondering when they’ll be able to see brand new episodes of the show.

The third series will reportedly consist of four standalone films, which will air in 2022.

Series 3 of McDonald and Dodds will be released in early 2022

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Series 3 of McDonald and Dodds will be released in early 2022

When will season 3 of McDonald and Dodds be released on ITV?

The first part of the new series will reportedly air on ITV in early 2022.

However, the broadcaster has not yet confirmed an official release date.

The show’s third series will consist of four standalone movies, and it looks like they’ll be released gradually over the course of a few months.

What’s happening in season 3 of McDonald and Dodds on ITV?

Quirky detective couple McDonald and Dodds return to picturesque Bath in Season 3, but are faced with four brand new murder mysteries.

The first episode will reportedly follow the team’s investigation into the mysterious death of a young woman, who is discovered sitting in a recliner with a huge smile on her face.

They will also be under the thumbs of a brand new boss, Chief Superintendent Ormond, played by Outnumbered star Claire Skinner.

What happened in season 1 and 2 of McDonald and Dodds?

Season 1

The very first episode of the show, titled The Fall Of The House of Crocket, saw our detective duo investigate a mysterious murder at the expensive mansion of Max Crockett, a business magnate.

The first series, which consisted of only two episodes, then followed with Wilderness Of Mirrors, which followed our detectives as they investigated the untimely death of a wealthy patient who was in private rehab.

While it may initially appear as if the victim has committed suicide, all is not what it seems.

McDonald and Dodds deals with a different murder mystery in each episode

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McDonald and Dodds deals with a different murder mystery in each episode

Season 2

The show was expanded to three full-length episodes for the second season, featuring the first episode, The Man Who Wasn’t There, features a mysterious balloon ride where five friends take to the skies, but only four return.

In the second episode, the detectives are stunned when a girls trip goes wrong and the two women are suspected of murder.

The third episode, which aired in April 2021, followed the story of an unfortunate social media influencer who undergoes plastic surgery — only for the procedure to go horribly wrong.

Celebrities walk the blue carpet at ITV Palooza

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58 students ‘locked up’ at Bengaluru Nursing School; Covid results expected on November 29

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58 students 'locked up' at Bengaluru Nursing School;  Covid results expected on November 29

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First Ohio Vax-2-School Scholarship Lottery Winners Announced Monday

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First Ohio Vax-2-School Scholarship Lottery Winners Announced Monday

Starting Monday, the names will be chosen in the Ohio Vax-2-School scholarship lottery. The Vax-2-School program is a new vaccination promotion program for young people. The vaccine lottery is open to anyone aged 5 to 25 who is already fully vaccinated or newly vaccinated individuals who have received at least one shot of the COVID-19 vaccine. Five people win a $100,000 scholarship and 150 people win a scholarship of $10,000, officials announced. Those scholarships are awarded in Ohio 529 College Advantage plans, good for any state college, university, career program, or technical program. registering for daily draws was Sunday, but you have until December 1st to enter the main prize draw is December 1st. You must register to win, and children under 17 must be registered by a parent or guardian. CLICK HERE TO REGISTER Daily prize winners will be announced on Twitter and Instagram at @ohiovax2school and on ohiovax2school.com from November 29 through Dec 2nd. Grand prize winners will be announced in the raffle broadcast at 7:29 PM EDT on December 2.

Starting Monday, the names will be chosen in the Ohio Vax-2-School scholarship lottery.

The Vax-2-School program is a new vaccination incentive program for young people.

The vaccine lottery is open to anyone aged 5 to 25 who has already been fully vaccinated or newly vaccinated individuals who have received at least one shot of the COVID-19 vaccine.

Five people will win a $100,000 scholarship and 150 people will win a $10,000 scholarship, officials announced.

Those scholarships are awarded in Ohio 529 College Advantage plans, good for any state college, university, career program, or technical program.

The deadline to enter for daily draws was Sunday, but you have until December 1st to enter the main prize draw is December 1st.

You must register to win, and children under 17 must be registered by a parent or guardian.

CLICK HERE TO REGISTER

Daily prize winners will be announced on Twitter and Instagram at @ohiovax2school and on ohiovax2school.com from November 29 through December 2.

The top prize winners will be announced on December 2 at 7:29 PM EDT during the raffle broadcast.

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