InvestorQ : Why does Amazon want to make Reliance a party to the legal battle with the Future group?
Debbie Mascarenhas made post

Why does Amazon want to make Reliance a party to the legal battle with the Future group?

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Arti Chavan answered.
2 weeks ago
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In a rather interesting move, Amazon is now considering making Reliance Industries also a party to the legal battle between Amazon and the Future Group. This was triggered after RIL took control of nearly 950 Big-Bazaar stores. Amazon feels this was done through the back door and had totally sabotaged any plans for recovery of the Future group.

Legally, the 28 lenders to Future Group have first charge on stocks, inventory, fixtures, billing systems and equipment in Big Bazaar stores, which are now under RIL control. Not surprisingly, the secured creditors have rejected the RIL deal. Amazon also wants to make RIL party to the SIAC hearing in Singapore.

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