future: Amazon sends notice to Future Group to stop transaction with RIL

Amazon has sent a notice to Future Group promoters asking them to refrain from entering into any kind of transaction with group either directly or indirectly, source aware of the development said on Tuesday. The notice follows reports that the Future group is in the midst of negotiations with Mukesh Dhirubhai Ambani (Reliance Industries Limited) Group for sale of its supply chain and logistics businesses.

Amazon in the notice dated June 6 to Future Group promoters said that the scheme of arrangement between Future Group and

was rejected by the creditors of Limited (FRL), but still “FRL has through a fraudulent and convoluted stratagem already handed over as many as 835 retail stores to the MDA Group and now intends to transfer the entire supply chain, warehousing and logistics business by way of the proposed transaction to the MDA Group.

It said that the the “proposed transaction is in continuation of a larger fraudulent stratagem to give effect to the impugned transaction by circumventing the binding injunctions contained in the EA (Emergency Arbitrator) order and subsequently re-affirmed by the arbitral tribunal in the tribunal order,” the notice said.