Amazon may plan to initiate criminal court proceedings against Future Retail for allowing the transfer of assets to Reliance despite a legal prohibition, Reuters has reported.
Amazon and Future Group dispute Future's $3.4 billion sale of assets to Reliance Industries
Amazon may plan to initiate criminal court proceedings against Future Retail for allowing the transfer of assets to Reliance despite a legal prohibition, Reuters has reported.
The report states the lawsuit could be filed as early as this week.
For more than a year, Amazon and Future Group have been in a legal stand-off that has stalled Future's $3.4 billion sale of assets to Reliance Industries.
Amazon successfully halted Future's asset sale to rival Reliance since 2020 by citing violation of certain contracts.
Future has denied any wrongdoing but Singapore arbitrator and Indian courts have backed Amazon's claim.
Earlier this week, Reliance reportedly started taking over around 250 more Future Retail stores, rebranding them as its own outlets, after the company failed to make lease payments for the outlets to Reliance.