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Future mulls Supreme Court bid to avoid being named a defaulter

Future told Indian exchanges this month it was unable to pay 35 billion rupees ($470 million) it owed to its lenders on Dec

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Supreme Court

Reuters New Delhi

3 min read Last Updated : Jan 21 2022 | 12:49 AM IST

India's Future Group plans to challenge its own lenders in the Supreme Court to avoid being named a defaulter for missing payments, citing its ongoing dispute with partner Amazon.com Inc, three sources told Reuters on Thursday.

Future, the country's second-largest retailer, has since 2020 failed to complete its $3.4 billion retail asset sale to a rival due to successful legal challenges by Amazon, which argues the Indian group violated certain non-compete contractual terms the two sides had. Future denies any wrongdoing.

Future told Indian exchanges this month it was unable to pay 35 billion rupees ($470 million) it owed to

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Future Group Supreme Court

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