Future of Biyani-Reliance deal under Amazon cloud

Amazon.com Inc.’s legal challenge to void Future Group’s ₹24,700 crore asset sale to Reliance Industries Ltd hinges on a clause in the e-commerce giant’s 2019 investment agreement in Future Coupons Ltd that explicitly bars the Kishore Biyani-led group from forging a pact with the Mukesh Ambani company, two people directly aware of the matter said.

Amazon has hired law firm AZB Partners to pursue the case against Future Group at the Singapore International Arbitration Centre (SIAC), the people said, declining to be identified.

“Reliance Industries’ name was specifically mentioned,” said one of the two people. “This was a pre-condition for the Amazon-Future deal.