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Amazon is considering impleading Reliance Industries in the legal battle with Future Group after RIL seized control of 950-odd Big Bazaar stores, a move the e-commerce giant claims will prevent it from keeping Future Retail afloat and lenders from recovering their due
Rejection of the Reliance deal by its creditors has put Future Retail in deep trouble. With Reliance becoming the main tenant of 835 FRL stores across formats, it has very little to offer to any potential buyer, once its creditors drag it to the auction block
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Reliance's decision to back out comes after almost two years of litigation as Amazon contested the takeover.By Suvashree GhoshBloombergPublished On 25