Delhi HC to pronounce verdict on Future Group's plea against Amazon today

 

On August 29 this year, the Future Group announced sale of its retail and wholesale business to Reliance Retail in a Rs 24,713 crore deal

The Delhi High Court will pronounce its verdict on Future Retail Ltd ’s plea to restrain Amazon from writing letters to regulators against its asset sale with Reliance Industries. The court had reserved its verdict for today on November 20.

On August 29 this year, the Future Group announced sale of its retail and wholesale business to Reliance Retail in a Rs 24,713 crore deal. It announced plans to merge key group companies, including Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks into FEL.


However, the Jeff Bezos led company argued that a 2019 pact it signed with Future prevented the Indian company from selling its retail assets to certain parties. Read More

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