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Employees of India’s Future Retail urge top court to clear asset sale in Amazon dispute -Breaking

by Mike Robinson

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© Reuters. Shop carts can be seen at the Big Bazaar in Mumbai, India on November 25, 2020. REUTERS/Niharika Kulkarni/File Photo

Aditya Kalra, Abhirup and Roy

NEW DELHI, (Reuters) – Employees at India’s Future Retail asked the Supreme Court for permission to let the company sell its retail assets, and to rule against Amazon.com Inc. (NASDAQ:). This ongoing dispute cited risks to 27,000 job opportunities, according to a legal filing that Reuters reviewed.

Future has failed to close https://reut.rs/3DJfYpP its $3.4 billion deal to sell its retail assets to market leader Reliance Industries due to successful legal challenges by Amazon, which argues that Future violated some pre-existing contracts the two sides had struck, by deciding to sell its retail assets to Reliance.

A group of Future Retail employees filed a petition asking the Supreme Court to decide against Amazon as their livelihoods are at risk.

Future, which employs 27,000 people, will lose their livelihood if the deal is not reached. In a filing seen by Reuters, FRL Employee Welfare Association stated that the family members of its employees will have to move on.

Future denies wrongdoing. Amazon repeatedly claims that Future’s 2019 investment into Future prohibits Future-Reliance deals. Future is also threatening liquidation.

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