The court was reviewing Amazon's request to stop FRL from selling its retail assets until the US company and the Future group reached an agreement in the arbitration. During the hearing Future Retail told the SC that just for Rs 1,400 crore, Amazon has destroyed a Rs 26,000-crore company.
The Kishore Biyani firm told the Supreme Court on Friday that Amazon "wanted to destroy us, and it succeeded," in response to the e-commerce giant's request to stop Future Retail (FRL) from abandoning more of its outlets.
"For Rs 1,400 crore (the Amazon-Future deal), Amazon has destroyed a Rs 26,000-crore company," FRL told a Bench headed by Chief Justice NV Ramana. "Amazon has been successful in what it wanted to do…We are hanging by a thread. No one wants to do business with us now. When the landlord gives an eviction notice, what can we do?” Senior attorney Harish Salve, who is representing FRL, remarked. He was alluding to Reliance Retail, a division of Reliance Industries, taking...