Future Retail Ltd (FRL) on Monday said Amazon has approached the Supreme Court against a Delhi High Court order that vacated the status quo on Future Group s proposed Rs 24,713 crore-deal with Reliance Industries. In a filing to stock exchanges, FRL also said that it shall defend the matter/proceedings through its legal counsels .
Amazon and Future are locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at SIAC, arguing that the latter had violated their contract by entering into the deal with rival Reliance. . the company s advocates are in receipt of communication dated February 13, 2021 from advocates of Amazon.com NV Investment Holdings LLC (Amazon) informing that Amazon has filed a Special Leave Petition before the Supreme Court of India against the captioned order dated February 8, 2021 passed by the Division Bench of the High Court of Delhi, FRL said in the filing.
Amazon had asked for $40 million as compensation for RIL deal: Future Group
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Amazon had asked for $40 million as compensation for RIL deal: Future Group
PTI / Feb 15, 2021, 19:34 IST
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Amazon had dragged Future Group to arbitration arguing that it violated the contract by entering into deal with rival Reliance. (File photo)
NEW DELHI: Amazon had asked for $40 million (around Rs 290.41 crore) in compensation from Future Group for the deal with Reliance Industries, and Amazon s claim of not being informed of the deal is incorrect, documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm said.
According to the submission by Future Group in October last year, Amazon was well aware of Future s Rs 24,713 crore deal with RIL.
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
Amazon had asked for USD 40 million (around Rs 290.41 crore) in compensation from Future Group for the deal with Reliance Industries, and Amazon s claim of not being informed of the deal is incorrect, documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm said. According to the submission by Future Group in October last year, Amazon was well aware of Future s Rs 24,713 crore deal with RIL. In August 2020, two phone calls among the 3rd respondent (Kishore Biyani) and 8th respondent (Rakesh Biyani) and Abhijit Mujumdar on behalf of the claimant (Amazon.com NV Investment Holdings LLC), the claimant asked for USD 40 million as compensation in exchange for the Future Group and Reliance proceedings with the disputed transaction, the document said.
New Delhi, February 15
Future Retail Ltd (FRL) on Monday said Amazon has approached the Supreme Court against a Delhi High Court order that vacated the status quo on Future Group’s propos