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Why The Future-Reliance Deal Has Made Amazon So Unhappy [Video]

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Kishore Biyani’s Future Retail’s Rs 24,713 crore deal with Reliance Retail entered troubled waters when he was sent a legal notice by Amazon.com Inc. Blaming Future Retail, Amazon said that the deal violates its clause of ‘contractual rights’, which is forcing the company to move to the Singapore International Arbitration Centre.

Blaming Future Retail, Amazon said that the deal violates its clause of ‘contractual rights’.

Watch: Legal Battle between Reliance and Amazon

Video Credits: ET Now

What is the Future-Reliance deal?

After months of negotiations, the RIL announced in late August that its subsidiary, Reliance Retail, was working on multi-billion dollar deal with Future Retail. As per the deal, Future Retail will sell its logistics, warehousing, retail and wholesale business to Reliance Retail. Future Group will sell its 1800 stores of premium foods unit Foodhall, supermarket chain Big Bazaar, fashion and clothes chain Brand Factory’s retail and wholesale businesses, Nilgiris and Central to Reliance Retail. With the multi-billion deal with Future …

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Ecommerce

'Judge Judy' Sheindlin's New Series Finds Home at Amazon Studios and IMDb TV [Video]

Judge Judy star Judith Sheindlin is coming back to television, but it might be a little difficult to find her. She signed a deal Thursday to bring her next series to Amazon Studios, and it will air on the Amazon-owned IMDb TV platform. The news comes about eight months after Sheindlin surprisingly [...]