Amazon behaving like East India Co: FRL1 min read . Updated: 20 Nov 2020, 07:14 AM IST
- The high court was hearing FRL’s plea seeking to restrain the e-commerce major from approaching regulatory bodies, such as the CCI, against the deal with RRVL
Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon Inc. is misrepresenting its legal rights and should not be allowed to wreck the Future Group’s business transaction with Reliance Retail Ventures Ltd (RRVL). Appearing for FRL, senior advocate Harish Salve said the e-commerce major was behaving like the East India Co. and was trying to destroy competition in the market.
“He (Amazon) has no investment in FRL. An American company whose pro-rata investment is less than 10% is telling me who I should invest in. Reliance wants to buy, but I have to ask Big Brother sitting in America?" Salve said. “They think that they have the right to bring FRL to a grinding halt. This is why we have competition law so that competition remains. These kinds of clauses destroy competition. Please stop this company from wrecking this transaction."
The high court was hearing FRL’s plea seeking to restrain the e-commerce major from approaching regulatory bodies, such as the CCI, against the deal with RRVL. The court heard the matter for over four hours, before adjourning it for Amazon to argue its case on Friday. Senior advocates Harish Salve and Darius Khambata appeared for FRL and submitted various aspects on why the order by the Singapore court is not valid. Salve added that Amazon is “misrepresenting to the world through an agreement that I can’t restructure my company, save jobs, or protect my creditors worth ₹1,800 crore."