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No offer to settle dispute with Future Retail: Amazon

Our Bureau Mumbai | Updated on October 12, 2021

Amazon has objected to a deal between Future Retail and Reliance Retail

Amazon on Tuesday clarified that it has made no offer to settle the ongoing dispute with Future Retail Ltd (FRL).

“Amazon has consistently offered to assist FRL during the economic downturn caused by Covid and reiterated our openness for a dialogue even during the Delhi High Court hearings and this should not to be misconstrued as an offer for settlement,” an Amazon spokesperson said.

SC rules in favour of Amazon in the Future Retail case

There had been reports in the media that Amazon and Future could begin talks for an out-of-court settlement.

SC stay

Amazon has objected to a deal between Future Retail and Reliance Retail, citing violation of an agreement between the American e-commerce giant and Future group. Amazon,which has a minority stake in Future Retail, had earlier tried to bring in strategic investors to help Future Retail with more equity funding.

Reliance extends time to complete ₹24,713-crore deal with Future Retail

However, even as these discussions were going on, Future group announced the deal with Reliance. Amazon has challenged the deal in a Singapore court. Recently the Supreme Court also put a stay on the Future-Reliance deal.

Published on October 12, 2021

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