Future may face liquidation if the deal, already mired in legal wrangling, falls through and banks are actively discussing an alternate one-time restructuring option
Amazon demanded $40 million to forego its right of first refusal: Future Group
Kishore Biyani-led homegrown retailer claimed in a submission to the emergency arbitrator that Abhijeet Mazumdar, head of corporate development and private investments at Amazon made a verbal offer to Future Group promoter on behalf of the e-tailer
BusinessToday.In | February 15, 2021 | Updated 13:28 IST
Future Retail that has locked horns with Amazon over its deal with Mukesh Ambani-led RIL said that the US giant asked $40 million to forego its right of first refusal to buy Future Group s assets in its retail unit. The company made the allegations in documents submitted with the Singapore International Arbitration Centre (SIAC).
Future Retail says Amazon filed petition in SC against 8 Feb order on RIL deal
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Future Retail also said that it will defend Amazon petitioner through legal counsel
On 8 February, the Delhi High Court stayed its single judge direction to Future Retail Ltd and various statutory authorities to maintain status quo with regard to its Reliance Retail deal
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Future Retail Ltd on Monday said that e-commerce major Amazon had filed a petition on Supreme Court against 8 February order on Future group s ₹24,713-crore deal with Reliance.
The company also said that it will defend Amazon petitioner through legal counsel.
Amazon’s claim of not being informed of the Future-RIL deal is incorrect, documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm said