You are here: Home » Companies
;
Business Standard
Web Exclusive

Amazon-Future dispute: Kishore Biyani may look for mutual settlement

Time running out for Future Group, which has defaulted on debt payments

Topics
Kishore Biyani

Akshay Jaitly  |  Mumbai 

Amazon Founder Jeff Bezos
Amazon Founder Jeff Bezos

Kishore Biyani-led might consider resolving its dispute, arising out of its deal with Reliance Retail, amicably with erstwhile partner

This comes as the latter is looking to enforce the stay order granted by the Singapore International Arbitration Centre on Sunday, asking to not proceed with the deal.

But with time running out for the debt-laden Future group, which has defaulted on payments to lenders, a mutual settlement appears to be the best option, said lawyers and experts Business Standard spoke to.

will look for an out-of-court settlement with help from Reliance in the matter. has gone to court to expedite the issue it has with the Future group. A delay in the transaction is something the Future group and Reliance cannot afford. This may push them to reach a settlement with Amazon and consent terms could be filed in court,” corporate lawyer HP Ranina said.

Last year, Amazon had invested nearly Rs 1,500 crore to buy a 49 per cent stake in one of Future’s unlisted firms, Future Coupons, with the right to buy into flagship Future Retail after a period of three to 10 years.

Future Coupons owns 7.3 per cent stake in Future Retail.

According to the arbitration proceedings in Singapore, Amazon said Reliance had featured in the negative list of with whom Future was forbidden from transacting when the deal was signed in 2019.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 27 2020. 13:03 IST