Amazon’s fraud allegations faulter as Future Retail enters restructuring in India
Future-proof? Future Retail, owner of Big Bazaar, enters insolvency (Credit: Shutterstock/ raven Studio)
Indian counsel working for Jeff Bezos’ Amazon have failed to stop the Bank of India placing local conglomerate Future Retail into a corporate insolvency resolution process, with the National Company Law Tribunal’s Mumbai Bench dismissing “baseless” allegations of fraud against the debtor and its creditors.
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