New Delhi: E-commerce major heroine sent notice to Future Group Promoters, asking them to refrain from entering into transactions of any kind Reliance Industry groups either directly or indirectly, sources aware of the development said on Tuesday. The notice follows reports that Future Group is in talks with the Mukesh Ambani-led conglomerate for the sale of its supply chain and logistics businesses.
Amazon said in a June 6 notice that the creditors of Future Retail (FRL) had rejected the plan of arrangement between Future Group and Reliance, but still “FRL Has already handed over 835 retail stores to MDA (Mukesh) through a fraudulent and complicated trick Dhirubhai Ambani) Group and now intends to transfer the entire supply chain, warehousing and logistics business through the proposed transaction to MDA Group.
It said that “the proposed transaction is in a large fraudulent sequence to give effect to the disputed transaction”. It said that FRL had claimed that the MDA group had “forcefully” taken over the retail stores. “It is worth noting that Future Group has not taken any action against the acquisition of retail stores. In contrast, Future Group now intends to enter into a new commercial transaction for the sale of its supply chain and logistics businesses, which are ancillary and complementary to the operations of a single entity, i.e. MDA Group’s retail stores,” Amazon said.
Amazon said in a June 6 notice that the creditors of Future Retail (FRL) had rejected the plan of arrangement between Future Group and Reliance, but still “FRL Has already handed over 835 retail stores to MDA (Mukesh) through a fraudulent and complicated trick Dhirubhai Ambani) Group and now intends to transfer the entire supply chain, warehousing and logistics business through the proposed transaction to MDA Group.
It said that “the proposed transaction is in a large fraudulent sequence to give effect to the disputed transaction”. It said that FRL had claimed that the MDA group had “forcefully” taken over the retail stores. “It is worth noting that Future Group has not taken any action against the acquisition of retail stores. In contrast, Future Group now intends to enter into a new commercial transaction for the sale of its supply chain and logistics businesses, which are ancillary and complementary to the operations of a single entity, i.e. MDA Group’s retail stores,” Amazon said.