Future, Amazon continue letter fight; Write to SEBI over Future-Reliance deal

Continuing their letter fight, Amazon and Future Group have written to market regulator SEBI with contrasting requests over a Rs 24,713 crore buyout of assets of India’s second-largest retailer.

Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon has urged that the review of the “impugned transaction” be suspended.

Amazon had dragged Future Group to arbitration at Singapore International Arbitration Centre (SIAC) after an indebted Kishore Biyani group firm signed a pact to sell retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani’s Reliance in August this year.