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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.