“On the outset, we deny all allegations made within the stated media report by Amazon on the Firm,” FRL stated in a clarification to BSE.
Final week, Amazon had accused FRL's impartial administrators of facilitating a “fraudulent stratagem” of switch of 835 shops to Reliance Retail Enterprise.
FRL stated Amazon has been writing to numerous regulators on one or the opposite level associated to the corporate and has been making “baseless, irrelevant allegations”.
“As is obvious Amazon is altering its aim put up from time to time with respect to numerous issues regarding the Firm,” it stated within the regulatory submitting on Wednesday.
FRL, which is dealing with an insolvency petition earlier than NCLT for defaulting on loans, stated it has already made vital disclosure in relation to termination of leases for the shops on February 26, 2022, March 9, 2022 and March 16, 2022, giving the replace in relation to the identical.
Future and Amazon have been locked in a bitter authorized tussle after the US e-commerce big dragged Future Group to arbitration on the Singapore Worldwide Arbitration Centre (SIAC) in October 2020, arguing that FRL had violated their contract by coming into right into a deal for the sale of its property to billionaire Mukesh Ambani's Reliance Retail on a droop sale foundation for Rs 24,713 crore.
The Reliance deal fell by way of final month after lenders to FRL and different group corporations a part of it had rejected it.
However previous to that, Reliance group took over operations of dozens of Future shops after the retailer didn't pay hire.
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