The Board recalled that the measures adopted are "provisional" and aim to "preserve the interests of the group and ensure the continuity of the operational activities."
Warnings from retailers prompted caution ahead of the holiday season, increasing selling pressure on equities as investors fret about a slowdown in global growth, peaking corporate earnings and rising interest rates.
British fashion group New Look is to exit China and will close its remaining 120 stores there by the end of the year, it said.
Amazon.com Inc (AMZN.O) is likely to buy an at least 7 percent to 8 percent stake in India’s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources.
NCLAT adjourned its hearing over the petition filed by traders' body CAIT against fair trade regulator CCI's approval of Walmart's USD 16 billion acquisition of Flipkart.
U.S. retail vacancies remained flat at 10.2 percent in the third quarter, while a number of Sears Holdings Corp (SHLD.O) and Bon-Ton store closures boosted mall vacancy rates, real estate research firm Reis Inc (REIS.O) said in a report.
Walmart India, which runs 22 Best Price wholesale stores since its second entry into the country in 2019, is planning to increase the share of its private labels to topline to 10 per cent by next year as it plans to tap the Flipkart platform.
Flipkart has significantly expanded its infrastructure and delivery operations ahead of the festive sale, an investment that the Walmart-backed company believes will help further strengthen its capabilities in the long-term.