Monday, Aug 15, 2022
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Amazon Accuses Future Retail Of Fraud In Newspaper Advertisements

Amazon has been engaged in several legal tussles with Future Retail and Reliance Group. The company has also been contesting Future Retail’s $3.8 billion deal with Reliance Group in the Supreme Court. 

Amazon has been engaged in several legal tussles with Future Retail and Reliance Group.
Amazon has been engaged in several legal tussles with Future Retail and Reliance Group.

The US e-commerce giant Amazon has accused Future Retail Limited, a subsidiary of Future Group and Reliance Group of fraud after the latter took over Future Retail’s stores. Titled as ‘Public Notice’ in the leading newspapers of the country, the advertisement stated, “FRL and its promoters have consistently acted in violation of the order passed by the emergency arbitrator and reaffirmed by the Arbitral Tribunal. It has now come to light that FRL and its promoters have been attempting to remove the substratum of the dispute by purportedly transferring and alienating FRL’s assets comprising the retail stores in the favour of the MDA Group.”

“In particular, it may be noted that FRL and its promoters made false submissions before the Hon’ble Supreme Court stating that the retail assets would continue to vest in FRL until the scheme of arrangement with the MDA Group was finally approved by the NCLT. These false statements were made knowingly as FRL was on the verge of purportedly allowing handing over of the retail assets to the MDA Group,” it added. 

Amazon has been engaged in several legal tussles with Future Retail and Reliance Group. The company has also been contesting Future Retail’s $3.8 billion deal with Reliance Group in the Supreme Court. 

“Amazon hereby puts all persons concerned to notice that any attempt by FRL and its promoters to transfer/dispose/alienate any of its retail assets is in violation of binding orders of the Arbitral Tribunal, which operate as orders of an Indian court and any party assisting or cooperating in such fraudulent and contumacious actions will be liable for civil and criminal consequences under law,” it further said. 

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