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| "Amazon God Must Pick Up Phone...": Future Group On Talks Offer Amid Fight | | |  Future Group informed the Supreme Court that, "Amazon God must pick up the phone and call..." after Amazon proposed talks to end legal battles.
Here's Your 10-Point Cheatsheet To This Big Story:
1. To end a contractual dispute that has soured relations between the two sides, Amazon has suggested talks with Future Retail.
2. While the Supreme Court, welcoming these discussions, has given both parties until March 15 to explore a settlement through negotiations.
3. Future Group acknowledged the proposal saying, "nobody is winning in this battle, but it made clear it wants Reliance to be on the call for these talks.
4. The Supreme Court also suggested that Amazon, Biyani Group's Future Retail & Coupon, and Reliance Retail should agree to explore the possibility in the next ten days to settle disputes over Future's retail assets, which has been a subject of intense multi-forum litigation.
5. Amazon's counsel Gopal Subramanium proposed during a hearing before India's Supreme Court, where he said the "whirlpool" of litigation was being dragged for too long.
6. "All that I'm saying is let's at least have a conversation. We cannot allow the spinners' wheel to continue like this," Mr Subramanium told the court.
7. In response, a counsel for Future Group agreed to hold talks with Amazon. The judges said the two sides could take ten days to reach a possible solution.
8. Amazon has successfully stalled Future's $3.4 billion asset sale to Indian rival Reliance since 2020 by citing violation of specific contracts.
9. Future denies any wrongdoing, but the U.S. firm's position has been backed by a Singapore arbitrator and Indian courts so far.
10. Amazon has also assured that it will not launch any fresh proceedings against Future while these talks are underway. |
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