Future Vs Amazon News Today

Last week, Amazon had accused FRL's independent directors of facilitating a "fraudulent stratagem" of transfer of 835 stores to Reliance Retail Venture. FRL said Amazon has been writing to various regulators on one or the other point related to the company and has been making "baseless, irrelevant allegations".

They also said they have started classifying loans to the country's second-largest retailer as non-performing and would have to make combined provisions of 80 billion-90 billion rupees ($1.1 billion-$1.2 billion) due to the non-payment.

The two-member bench comprising Justices M Venugopal and V P Singh has also asked Amazon to file a convenient compilation of the voluminous petition.

Was the Competition Commission’s suspension of the Amazon-Future deal a slam-dunk or is there more to it than it seems?

The development comes as a huge blow to Amazon, which had cited its 2019 deal with Future Group to stop the Reliance-Future deal.

Months before RIL-Future deal, Amazon devised Rs 6,000 cr rescue plan for Biyanis company But Future group says Amazon failed to provide any help to debt-laden company that suffered a massive setback during COVID-induced lockdown. Amazon, on the other hand, says there were ongoing discussions on multiple options with partners and with the promoters of Future BusinessToday.In | March 3, 2021 | Updated 13:03 IST Amazon on February 12 moved the Supreme Court (SC) in a bid to block the deal Even a...

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 a...

Updated Jan 12, 2021 | 09:17 IST Future Group and Amazon are entangled in a bitter legal dispute over the Indian retail companys Rs 24,713 crore deal with Mukeh Ambani-controlled Reliance Industries (RIL). Amazon may file fresh plea in Delhi High Court against Future’s Rs 24,713 crore deal with RIL&nbsp | &nbspPhoto Credit:&nbspBCCL New Delhi: E-commerce behemoth Amazon is likely to file a fresh petition as early as this week in the Delhi High Court in the ongoing lega...