Amazon has reportedly asked Future Group to withdraw its applications made against it to CCI. According to a report, the withdrawal was a prelude to an out-of-court settlement in which Amazon also requested generous compensation for its objections to the deal with Reliance Retail.
The meeting took place a month ago, and was attended by Future Group’s Kishore Biyani, Amazon’s legal head Rakesh Bakshi, among others. The outcome, however, was inconclusive. According to the report, Future Group declined the pre-conditions for a settlement process in the absence of a definitive agreement. Without first seeing a definitive agreement, Future Group declined the pre-conditions for a settlement process. Future's independent directors have filed two applications with CCI alleging misrepresentation on Amazon's behalf in order to invest in Future Retail via Future Coupons.