Why Amazon Is Feuding With A Partner And Mukesh Ambani

Friday, 13 November 2020Newsdesk

A legal spat between Amazon.com Inc. and its Indian partner that started before an arbitrator in Singapore just got fiercer in a court in New Delhi. The US e-commerce giant and Future Group, whose assets billionaire Mukesh Ambani's Reliance Industries Ltd. recently agreed to buy for $3.4 billion, are locked in a dispute over that deal. Amazon says Future violated a contract with the sale to its rival and wants to halt it, while the indebted Mumbai-based firm says it would collapse if the transaction were to fail.

New Delhi, 13 November 2020

As per news report of NDTV, the Jeff Bezos-led e-tailer has accused Future and its founder Kishore Biyani of flouting disclosure rules, according to court filings seen by Bloomberg. Future's disclosures were "made as per the applicable requirements," the company said in an email, refuting the allegations. Amazon has also written to the Competition Commission of India asking it not to approve the takeover until arbitration proceedings are complete.

Source -NDTV