Amazon Seeks INR 1,431 Cr As Penalty For Future-Reliance Deal

Amazon and Future Group’s tussle has taken a new turn as the former had asked Future Group to pay INR 1,431 Cr plus interest which is the same amount that the etailer had in Future Coupons.

The development comes after Future Group clarified that Singapore International Arbitration Centre (SIAC) order to put the INR 24,713 Cr deal between Kishore Biyani’s Future Group and Mukesh Ambani’s Reliance Retail Ltd. on hold is not enforceable under Indian law and is not binding on the company.

Calling Amazon’s claims as ‘motivated by other considerations’, Future group said in an exchange filing, “It is a bit rich for such an argument to be made from someone who is not even a shareholder in Future Retail.”

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