Amazon asks Sebi to comply with SC order related to $3.4-bn Future-RIL deal

In January this year, the market regulator had given a go-ahead for Future Group's scheme of arrangement and sale of assets to Reliance


Supreme Court ruled in favour of Amazon in a case that pitched the American online major against India’s original retail king Kishore Biyani’s Future Group and Mukesh Ambani’s Reliance Retail, which is set to go big on e-commerce

Peerzada Abrar Bengaluru
US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect.

In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal. Sebi had allowed the deal with some riders, five months after it

First Published: Aug 30 2021 | 5:54 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to