Future Files Fresh Case Against Amazon Over $3.4 Billion Retail Deal: Report

The outcome of the tussle involving two of the world's richest men, Amazons Jeff Bezos and Reliances Mukesh Ambani, is seen as reshaping India's pandemic-hit shopping sector

Future Retail on Saturday filed a new case against Amazon.com Inc at the Supreme Court in its latest effort to seek clearance for its $3.4 billion retail assets sale, which the U.S. firm has challenged. The Supreme Court this month dealt a blow to Future when it said an interim decision by a Singapore arbitrator in October 2020 that put its deal with Reliance Industries on hold - following Amazon's complaint - was valid in India. The top court had also said Future could not appeal a lower court's decision against it. The retailer is now asking the top court to hear the challenge, people familiar with the case said. In its over 6,000-page filing, Future has argued that if the deal with Reliance doesn't go through, it would cause "unimaginable" damage to the group, including possible job losses for 35,575 employees, and put at risk roughly Rs 28,000 crore ($3.81 billion) in bank loans and debentures.