Future Retail has asked for a writ to restrain Amazon from approaching regulators to dam its affect Reliance. Amazon Future Group for $34 billion (roughly Rs300 crores) including debt.
Amazon argues it had a 2019 agreement with Future which prevented the Indian group’s retail assets from being sold. The injunction was granted on Sunday October 25 and was reported by media with Amazon issuing a brief statement saying it welcomed the choice.
Reliance later that evening said during a stock market filing that it had been informed of the arbitration order and would enforce its rights to finish the affect Future at once. It is this October 25 filing which Amazon argues in its 20-page letter that indicates Ambani’s group was aware about “price sensitive” details of the injunction.
Ambani’s group “was not a celebration to the arbitration proceedings and will have received details related thereto only the injunction was within the property right from Sunday. Reliance and SEBI didn’t answer Reuters requests for comment Amazon declined to discuss the letter’s contents
