Amazon warns Future Group against entering into fresh deals with Reliance

Adding a new twist to its ongoing spat with Future Group, e-commerce major Amazon has warned its promoters against sale of the company’s supply chain and logistics businesses to Reliance Industries (RIL) in a fresh transaction.

In a letter addressed to Kishore Biyani and other family members who are classified as promoters, Amazon has said the transfer of the supply chain and logistics businesses were part of the transaction struck by the board of directors of Future Retail with RIL on August 29, 2020, and was subsequently put on hold by the Singapore emergency arbitrator. Further, the transaction was struck down in April by the creditors of Future Retail, hence any move to sell these assets to RIL now would be nothing but a ‘fraudulent move’, like the company handing over 835 of its stores to Reliance Retail, it said.