E-commerce major Amazon termed the charges as "false and misleading claims"
Future Group has alleged that Amazon had asked for USD 40 million (around Rs 290.41 crore) in compensation for the deal with Reliance Industries, a charge that the e-commerce major termed as "false and misleading claims".
According to documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm, Amazon had asked for USD 40 million in compensation from Future Group for the deal with Reliance Industries, and that the US-based company was well aware of the Rs 24,713 crore Future-RIL deal.
However, an Amazon spokesperson said the company denies the "false and misleading claims being made by the Future Group on a purported request for compensation to forego the right of first refusal".
"This is a questionable and an ill-timed attempt to mislead the public at large more particularly when Amazon has filed a special leave petition in the Supreme Court. Amazon has consistently offered to assist FRL during the economic downturn caused by COVID and reiterated our openness for a dialogue even during the Delhi High Court hearings, which was declined by Future Group," the spokesperson said in an emailed statement.
In August 2019, Amazon had agreed to purchase 49 per cent of one of Future's unlisted firms, Future Coupons Ltd (which owns 7.3 per cent equity in BSE-listed Future Retail through convertible warrants), with the right to buy into the flagship Future Retail after a period of three to 10 years.
On August 29, 2020, Future Group had announced that its retail and wholesale business would be sold to Reliance Retail, owned by oil-to-chemical conglomerate RIL in a ?24,713 crore deal.
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