American e-commerce giant Amazon told the Supreme Court on Tuesday that its talks with the Future Group to resolve the ongoing dispute over the merger of Future Retail with Reliance Retail have failed.
Amazon told a bench headed by Chief Justice NV Ramana that efforts to reach a consensus within 10 days for settlement through talks have not been successful. On March 3, the bench had given Amazon 10 days to negotiate.
Senior advocate Gopal Subramaniam, appearing for Amazon, told the court that talks have failed and nothing is happening at the moment.
Along with this, he also sought the court’s intervention on the issue of handing over the control of Future Retail Limited’s (FRL) store to Reliance. On this, the court gave permission to Amazon to file an application and said that it will hear it on Wednesday.
Amazon had alleged on March 3 that Reliance had taken control of about 600 stores of FRL. To this, Harish Salve, counsel for Future Group, submitted that not a single store has been handed over to Reliance.
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Amazon has been opposing the Rs 24,500-crore merger deal of FRL with Reliance Retail, saying it violates the investment agreement with the Future Group.