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Amazon, FRL talks collapse

Amazon, which is involved in a legal battle with FRL over the sale of the latter’s assets to Reliance Retail, said, in a public notice, that the false statements had been made knowingly as “FRL was on the verge of purportedly allowing handing over of the retail assets to the MDA Group”.

Amazon and the Future Group have been locked in a legal tussle after the US e-commerce giant dragged the latter to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020. (File)

Amazon on Tuesday accused Future Retail (FRL) of allowing Reliance Industries Group to take over its retail outlets despite submissions to the contrary in court.

Amazon, which is involved in a legal battle with FRL over the sale of the latter’s assets to Reliance Retail, said, in a public notice, that the false statements had been made knowingly as “FRL was on the verge of purportedly allowing handing over of the retail assets to the MDA Group”.

Amazon said “these actions have been done in a clandestine manner by playing a fraud on the constitutional courts of India.” While the Supreme Court had given Amazon and FRL time till March 15 to reach an out-of-court settlement, the counsels of the companies said in court that the talks had fallen through. Both parties now prefer a resumption of the arbitration proceedings before the Singapore tribunal that have been put on hold by the Delhi High Court. In its notice published in newspapers, Amazon said any attempt by FRL and its promoters to transfer or dispose off assets would be in violation of the orders of the Emergency Arbitrator. —FE

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First published on: 15-03-2022 at 22:10 IST
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