Talks with the Future group collapsed, Amazon told the Apex Court

We’re broke, Amazon brought us to our knees, says Future Group; The court plans the next hearing on March 16

We’re broke, Amazon brought us to our knees, says Future Group; The court plans the next hearing on March 16

The Supreme Court was informed Tuesday that talks between Amazon and Future Group to resolve their dispute over a 24,731-crore merger deal with Reliance have made no progress.

The US e-commerce company called on a bench led by Chief Justice of India NV Ramana to intervene to ensure Future Retail’s stores are not taken over by Reliance.

Amazon had initiated talks with Future on March 3 to settle the dispute amicably. The court had given the companies 10 days to contact each other and try to find a solution.

“It often happens that sometimes we hope very positively, but in the end it’s not positive at all. The conversation ended and failed. Nothing is happening at the moment,” Amazon’s lead attorney Gopal Subramanium filed Tuesday.

Mr. Subramanium requested the Supreme Court to proceed with the arbitration.

Lead Counsel Harish Salve, who acted for one of Future Group’s law firms, added: “We are broke. Amazon brought us to our knees and they did. Nothing was transferred. The rents were not paid for two years, we had no money, we told all the forums. Our leases will be terminated.”

“We can talk about the glory and greatness of things, but if we’re broke, we’re broke,” Mr Salve said.

The court has scheduled the next hearing on March 16.

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