Amazon offers financial assistance to future retail

Amazon's new offer corresponds to its attorney Gopal Subramanium's court filings stating that the company wants to assist FRL and does not want the company to fail. In addition, he recently said again during a Supreme Court session that Amazon has offered to help the Future group.

Amazon offers financial assistance to future retail
Photo by Christian Wiediger / Unsplash

Amazon has given financial support to cash-strapped Future Retail Ltd (FRL), which is involved in a legal dispute with Reliance Industries over the latter's proposed sale of assets for almost INR 25,000 crore. FRL, situated in Mumbai, has been cautioned by Amazon not to sell any of its retail stores without Amazon's permission.

“We reiterate our willingness and ability to assist FRL in addressing any financial concerns of FRL, within the framework of the agreements, including the solution proposed in the term sheet between Samara Capital, and FRL, which contemplated an infusion of [INR 7,000 crore] in FRL,” Amazon wrote in a letter sent to FRL’s independent directors.