India’s Future Retail communicated with Reliance on an arbitration order associated with its dispute with Amazon for a “legitimate purpose”, the corporate said on Wednesday.
The Indian firm disclosed to Reliance price sensitive details of an injunction granted by a Singapore arbitrator to dam its $3.4 billion (roughly Rs. 25,300 crores) affect Reliance.
The comments come after Reuters earlier within the day reported Amazon had asked the Securities and Exchange Board of India (SEBI) to research Future for trading.
The corporate added.Amazon had asked the Securities and Exchange Board of India (SEBI) to research Future Retail for trading .
The US e-commerce giant has been urging SEBI to review Reliance’s August deal to shop for retail, logistics and other assets from Future Group for $3.4 billion (roughly Rs. 25,300 crores) including debt.
