India's Future Retail Ltd (FRL) will go into liquidation if its deal to sell assets to Reliance Industries fails, the group told a Singapore arbitrator while arguing against Amazon.com Inc's bid to scupper the deal, a legal order seen by Reuters showed.
Amazon on Sunday won an injunction from a Singapore arbitrator to halt FRL's deal to sell assets to Reliance. Amazon alleged FRL had breached certain contract provisions it entered into last year in a separate deal with the US firm.
The dispute centres around FRL's decision in August to sell its retail, wholesale, logistics and some other businesses to Reliance