Future, Amazon continue letter fight; Write to SEBI over Future-Reliance deal
Future Group requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review of the impugned transaction be suspended.
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NEW DELHI: Continuing their letter fight, Amazon and Future Group have written to market regulator SEBI with contrasting requests over a Rs 24,713 crore buyout of assets of India s second-largest retailer.
Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review of the impugned transaction be suspended.
Continuing their letter fight, Amazon and Future Group have written to market regulator SEBI with contrasting requests over a Rs 24,713 crore buyout of assets of India s second-largest retailer.
Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review of the impugned transaction be suspended.
Amazon had dragged Future Group to arbitration at Singapore International Arbitration Centre (SIAC) after an indebted Kishore Biyani group firm signed a pact to sell retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani s Reliance in August this year. Future Group firm Future Retail Ltd (FRL) approached the Delhi High Court, which earlier this month upheld Amazon s right to make representations to statutory authorities against the Future Group-Reliance Retail deal.