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Amazon’s “Public Notice” Newspaper Ads Accuse Future, Reliance Of “Fraud”

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3 years ago

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Amazon’s “Public Notice” Newspaper Ads Accuse Future, Reliance Of “Fraud”

Amazon has been contesting the planned $3.4 billion sale of Future Group’s retail assets to Reliance, first announced in 2020. The case is currently before the Indian Supreme Court. Amazon accuses the two retailers of fraud in newspaper ads after Reliance Industries suddenly took over many of Future Retail stores.

Online retail giant Amazon has accused Reliance Industries of “playing a fraud on the constitutional courts in India” by taking control of Future Retail chain stores. The company’s staff showed up at many of Future biggest stores to assume control, sources have told Reuters. Internet retailer Future and its owner Reliance did not immediately respond to requests for comment.

Future has said in filings this month that it could not pay rent at many outlets given its distressed financial situation and that Reliance, which had taken over many of its leases, had issued it with termination notices. Amazon’s public outcry comes even though on March 3 it offered to hold talks.

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Online retail giant Amazon has taken out newspaper ads in India to alert stakeholders, including lenders, that the transfer of assets to Reliance Retail is legally prohibited. Amazon is concerned that Reliance is continuing to take over Future stores even as talks continue, a source with direct knowledge of the matter said.

Complete News: NDTV

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Tollywood

Pushpa 2 The Rule advance booking tracking better than RRR, Jawan in the US; crosses $1.4 million with 10 days to go

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3 weeks ago

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November 26, 2024

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Pushpa 2 The Rule advance booking tracking better than RRR, Jawan in the US; crosses .4 million with 10 days to go

Pushpa 2 The Rule has already crossed $1.4 million in advance bookings in North America even though the release is 10 days away.

Allu Arjun‘s Pushpa 2: The Rule is still nine days from its theatrical release but is already breaking box office records. The film is set for a grand release worldwide, and if its US pre-sales are any indication, it will likely get a bumper opening. The film is already tracking better than blockbusters like RRR and Jawan in the US. (Also read: Pushpa 2 trailer reactions: Allu Arjun fans predict blockbuster, cheer for Fahadh Faasil’s entry scene)

Pushpa 2’s US tsunami

On Monday, trade tracker Venky Box Office shared the film’s advance booking collections for its US premiere. Taking to X (formerly Twitter), the trade analyst tweeted, “#Pushpa2TheRule USA Premiere Advance Sales: $1,383,949 – 900 Locations – 3420 Shows – 50008 Tickets Sold.”

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By Sunday evening, Pushpa 2 had sold over 50,000 tickets in the US, with the release 10 days away. The tweet added that North American advance booking collections had crossed $1.458 million (around ₹12 crore), ‘which is a record’.

Trade analysts say that the film is set to cross $1.5 million with nine days to go, which means it is outpacing SS Rajamouli’s RRR and Shah Rukh Khan-starrer Jawan, the two biggest Indian movies in the US in recent times. Both films grossed over $15 million each in North America and are among the top five highest-grossing Indian films in the continent. Pushpa 2 is matching the pace of Shah Rukh’s other 2023 blockbuster, Pathaan, and is just behind the all-time record holder for India in the US – Baahubali 2 (which earned $20 million in the territory).

All about Pushpa 2: The Rise

Directed by Sukumar, Pushpa 2: The Rise is the sequel to the director’s 2021 pan-India hit Pushpa: The Rise. It brings back Allu Arjun as the titular anti-hero, alongside Rashmika Mandanna and Fahadh Fassil. The film, touted to be one of the biggest Indian productions ever, is set to hit the screens on December 5.

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