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Amazon petitioned NCLT to dismiss Future Retail’s insolvency plea

Amazon's investment arm, NV Investment Holdings, has petitioned the National Company Law Tribunal (NCLT) in Mumbai to dismiss the Bank of India's (BOI) insolvency resolution petition against Future Retail.

Amazon reportedly claimed in an intervention application that the petition filed by BOI is an act of'malice and collusion' with the company and its promoter Kishore Biyani. The ecommerce behemoth also requested that the NCLT conduct an investigation into the 'fraudulent and malicious' intentions and impose penalties on both banks and FRL. "We will show that we have the locus to file this petition and we have reason to believe that the lender and the company are hands in glove," Amazon's senior counsel Arun Kathpalia said.

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