Spotlight on Future Retail, Amazon ties

Details are emerging of Amazon holding controlling rights in Future Retail Limited (FRL) as the two parties slug it out in the Delhi high court over the acquisition of the Kishore Biyani-company by Reliance Retail.

In the Delhi court, Future Retail is seeking to restrain Amazon which armed with the order of a Singapore arbitrator wants to stop the Reliance-Future deal.

Amazon holding controlling rights in Future Retail has led to questions on whether the US online giant is running foul of investment rules in multi-brand retail. Amazon on the other hand says it does not have any operational control over Future Retail and the agreement only tries to protect its investments.