Amazon slams Reliance as Fraud..!

Sowmiya Sriram
amazon slams reliance as Fraud..!
As amazon continues to sue reliance Retail - Future Retail, which is seen as the largest trading deal in the indian retail market, Future Retail - amazon last week said it would resolve the issue through out-of-court negotiations after 18 months of struggle. amazon has issued a public notice against reliance Retail in the newspaper today as the outcome of the talks is being heard in court.
Amazon.com NV Investment Holdings LLC on tuesday issued a public notice in the newspapers alleging that reliance Industries had confiscated Future Group assets without the knowledge of indian courts, arbitral tribunals, and indian government officials/agencies.
Amazon has warned that reliance is seizing Future Retail assets in violation of the october 2020 Emergency Ordinance of the international Monetary Fund (SIAC) of Singapore, which has suspended a Rs 25,000 crore deal to sell Future Group's assets to reliance Retail.
As reliance Retail and amazon compete to capture Future Group's assets and business, reliance Retail, led by mukesh Ambani, has already secured the contract for 950 stores, having already acquired 200 Future Group retail outlets, just as it planned to rectify the issue through negotiations on march 3.

Amazon's public notice has now come as a shock to all parties, with reports that no firm decisions have been made in the ensuing negotiations. This will inform the results of the negotiations between the 3 companies in today's court hearing.
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