Process M&A application, ignore Amazon letter, Future Retail urges bourses

Statement comes after Amazon wrote to Sebi and stock exchanges last week on Singapore arbitrator's stay order

Future Retail has asked the BSE and NSE to process its application for merger and acquisition of its retail assets by Reliance Industries (RIL). 

The statement — released to the bourses on Sunday — comes after Amazon wrote to the Securities and Exchange Board of India (Sebi) and the exchanges last week, requesting them to consider the Singapore arbitrator’s interim judgment, which has put on hold the Rs 24,713-crore deal between Future Group and RIL. 

Future has urged the exchanges to not take into cognisance Amazon’s letter or the emergency arbitrator’s order, calling it entirely “misconceived”. 

Future Retail has argued in its statement