Amazon behaving like East India Co: FRL

Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon Inc. is misrepresenting its legal rights and should not be allowed to wreck the Future Group’s business transaction with Reliance Retail Ventures Ltd (RRVL). Appearing for FRL, senior advocate Harish Salve said the e-commerce major was behaving like the East India Co. and was trying to destroy competition in the market.

“He (Amazon) has no investment in FRL. An American company whose pro-rata investment is less than 10% is telling me who I should invest in. Reliance wants to buy, but I have to ask Big Brother sitting in America?” Salve said. “They think that they have the right to bring FRL to a grinding halt. This is why we have competition law so that competition remains. These kinds of clauses destroy competition. Please stop this company from wrecking this transaction.”