If you thought a settlement was on the anvil for the big fight between Bezos, Biyani and Ambani think again! E-commerce giant Amazon has taken the gloves off and placed ads in leading Indian newspapers, accusing Future Retail and Reliance of "fraud" after Reliance took over many of Future's stores.
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“The actions have been done in a clandestine manner by playing a fraud on the constitutional court of India, the arbitral tribunal and Indian statutory authorities/agencies,” Amazon.com NV Investment Holdings LLC said in public notice placed in newspapers on Tuesday.
On a day that the apex court was supposed to hear the case pressing for an out of court settlement, Amazon has added in it's public notice that “all persons concerned to notice that any attempt by FRL and its promoters to transfer/dispose/alienate any of its retail assets is in violation of binding orders of the arbitral tribunal which operate as orders of an Indian court and any party assisting or cooperating in such fraudulent and contumacious actions will be liable for civil and criminal consequences under law"
Amazon has been embroiled in the battle for stake in Kishore Biyani's debt laden Future Retail claimed by Mukesh Ambani for Rs 25,000 cr. Reliance has started to take control of the properties under Future Retail even as the case continues in the Supreme Court.
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