Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries Ltd for $3.4 billion. The deal, Amazon alleges, breaches 2019 agreements by Future. “Such a disclosure is against public interest, misleads public shareholders ... as well as perpetuates a fraud for the benefit of the Biyanis alone,” Amazon letter said, referring to Future’s promoter family led by Kishore Biyani. A spokesman for Future Group and the Biyani family declined to comment. A Future group source denied Amazon’s allegations, saying there was no question of any fraud or misleading the public or shareholders, without elaborating.

Source: Dhaka Tribune October 31, 2020 12:45 UTC