"Intend to Enforce Rights": Reliance As Amazon Wins Order To Stall Deal

Monday, 26 October 2020Newsdesk
"Intend to Enforce Rights": Reliance As Amazon Wins Order To Stall Deal
A Singapore-based single-judge arbitration court had restrained Future Retail from selling its retail business to Reliance Industries for Rs. 24,713 crore. Reliance Retail said "it intends to enforce its rights and complete the transaction as per its agreement with the Future Group without any delay" after the US-based e-ecommerce major Amazon.com won an interim award against Kishore Biyani-owned group company for its deal with Reliance Retail Ventures Ltd (RRVL).

New Delhi, 26 October 2020

As per news report of NDTV, the Singapore-based single-judge arbitration court had restrained Future Retail from selling its retail business to Reliance Industries for Rs. 24,713 crore. The indebted Kishore Biyani group company had earlier signed a pact to sell its retail, wholesale, logistics and warehousing units to billionaire Mukesh Ambani's Reliance Industries, through its subsidiary Reliance Retail Ventures.

Source -NDTV


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