Future Retail: Not every development ‘material event for disclosure’

Stepping up its attack on global e-commerce giant Amazon, Future Retail (FRL) on Thursday said every development in its arbitration with the former would not be “a material event for disclosure under” under section 30 of the listing obligations and disclosure requirements (LODR) regulations of the Sebi.

FRL was, however, making the disclosures “out of abundant caution” as Amazon, the other party in the arbitration had adopted a media strategy of “having every development reported and converted into a line of communication with stock exchanges”.

In its disclosure on Thursday, Future Retail said though it was not a party to the arbitration agreement, the Singapore International Arbitration Centre (SIAC) had made it a party to the agreement through an order.