The spokesperson said all related-party transactions and records of fund utilisation were on record and part of the public disclosures made by the company as part of standard governance practices
The CCI will meet Amazon and Future Coupons Pvt Ltd (FCPL) representatives in January next year in connection with the matter
The Supreme Court Tuesday asked whether the purpose was just to drag on or harass the judges and sought a common small compilation of documents
US giant Amazon had asked Kishore Biyani-led Future Group to withdraw its complaint in CCI as the two discussed a possible end to bitter tussle over investments, according to sources. Also, the sources said, a possible exit of Amazon - which is contesting the deal between Future group and Reliance Retail - in lieu of compensation was also discussed. Officials of Amazon and Future Group had a meeting a couple of weeks back but the US firm maintained that any suggestion of it seeking compensation to end the tussle with Future is "misplaced and motivated". Amazon, during the meeting that also included Future Group promoter Kishore Biyani, had hinted towards an out-of-court settlement of the ongoing tussle by asking for the withdrawal of Future's complaint over alleged violation of the Foreign Exchange Management Act (FEMA) rules by misrepresenting facts before the Competition Commission of India (CCI), they added. Amazon had asked the Future Group to withdraw the complaint filed by ..
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NCLT stays Future group shareholders' meet
Future group firms have deferred meetings of their respective shareholders on the direction of the NCLT
In a confidential notice, the agency also sought copies of legal filings, supporting documents submitted by Amazon, Future, say sources
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The NCLT said the objections raised by American retail giant Amazon were premature and could be dealt with later
Amazon says its openness for a dialogue should not to be 'misconstrued as an offer for settlement'
The scheme of arrangement between Future and Reliance Retail, announced in August last year entails consolidation of Future Group's 19 companies into one entity -- Future Enterprises Ltd.
First convenience store set to open tomorrow in Andheri East
Future had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after Amazon.com challenged it.
The deal has been contested by Amazon, an investor in Future Coupons, which in turn is a shareholder in Future Retail
'Reliance Retail Ventures Limited extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022,' says Future Retail