InvestorQ : Why has Amazon called upon the Delhi High Court to freeze the assets of the promoters of Future Group?
NISHA Nayak made post

Why has Amazon called upon the Delhi High Court to freeze the assets of the promoters of Future Group?

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Priyanka N answered.
2 months ago
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Amazon has now filed a petition in Delhi High Court asking for detention of Kishor Biyani and his family members as well as attachment of his assets for violating the Singapore arbitration court order. The order pertained to halting the $3.4-billion deal between Reliance Retail and the Future Group. Amazon termed it wilful disobedience by the majority respondents and key managerial personnel, which justified attachment of property.

Amazon fears that this deal could vitiate the entire interests of Amazon in Future Coupons and cause loss to Amazon. As per the petition, Amazon has also accused Future Group founders of violating the order of the Delhi High Court. Recently, SEBI had approved the deal.

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