Big Bazaar: Adani and Ambani clash to get the ownership of this big retail chain of the country, know details.

Asia’s richest man Gautam Adani and Reliance Industries chief Mukesh Ambani are in a new race. Both India’s leading industrialists are in the fray for the acquisition of debt-ridden Future Retail Ltd. According to media reports, April Moon Retail Private Limited, a joint venture of Adani Airport Holdings and Flamingo Group along with 13 other firms including Reliance Retail Ventures have filed Expression of Interest (EOI) for Future Retail.

Let us tell you that the deadline for submitting EOI for Future Retail, the flagship retail unit of Future Group, ended earlier this month. Let us tell you that Future Group was once the second largest retailer firm in the country. Its stores were spread across the country under the name of Big Bazaar. At present, the company owes Rs 21,000 crore to different lenders. The company has to clear dues of 33 financial creditors under the corporate insolvency resolution process.

RIL to develop multi-modal logistics park in Tamil Nadu

Reliance Industries Limited (RIL) has won the contract to develop the first Multi-Modal Logistics Park (MMLP) at Mappedu in Tiruvallur district in Tamil Nadu. The central government gave this information on Friday. MMLP Chennai is being developed on 184.27 acres of land at Mappedu. Prime Minister Narendra Modi laid its foundation stone on May 26, 2022.