Page 2 - Amazon Future News Today

Over months, Reliance has taken over the leases of more than 900 of Future's 1,500 stores, while still allowing the company to run them.

Amazon representatives informed Future the dispute could end if the US company could get back at least $200 million it invested in a Future unit in 2019.

The Supreme Court bench has asked Future Coupons to respond to Amazon’s application by March 16, when the matter will be heard next.

Last week, Reliance had taken over control of nearly 200 small-format retail stores of the debt-ridden Future Group.

For more than a year, Amazon and Future Group have been in a legal standoff that has stalled Future's $3.4 billion sale of assets to Reliance Industries.

The Court noted that there were broadly four petitions four consideration and asked the counsel appearing for parties to submit a brief noted of their contentions.

The Supreme Court will hear on February 8, the plea by Amazon challenging the Delhi High Court order which stayed the ongoing arbitration proceedings against Future Group related to 2019 deal between the two companies.

In a relief to the Future group, the Supreme Court on Tuesday set aside the previous orders of the Delhi High Court refusing to stay arbitration tribunal decision restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,731 crore merger deal with Reliance Retail.

In a relief to the Future group, the Supreme Court on Tuesday set aside the previous orders of the Delhi High Court refusing to stay arbitration tribunal decision restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,731 crore merger deal with Reliance Retail.

The bench, on January 11, had reserved the judgement and had said that it wanted to send the case back to the Delhi High Court to render a finding on the enforceability of the SIAC award restraining FRL's sale of assets to Reliance Retail.