New Delhi: Stepping up its fight back against Reliance-Future deal, Amazon has moved the Supreme Court against its partner Future Group’s $3.4 billion retail assets sale.
According to a Reuters report, Amazon has alleged Future Group of violating its contract by agreeing to sell its retail assets to Reliance Industries last year. However, Future has denied any wrongdoing.
Amazon argues that a separate 2019 deal it had with a Future unit had clauses saying the Indian group couldn’t sell its retail assets to anyone on a ‘restricted persons’ list, including Reliance.
The move follows the Delhi High Court’s decision on Monday to stay a previous order maintaining status quo on Future’s Rs 24,713 crore deal with Reliance.