The buzz on the deal dynamics between Reliance, Future Group, and Amazon is as sensitive as the bloodbath at Dalal Street. Lenders for their dues, customers for their vouchers, Amazon for its contractual rights are just a few of the business tangles to unravel.
Amidst several other shockwaves, the most recent was that of the Reliance deck packing up and abandoning the deal. This termination, of course, brought in suspense across the board rooms of India Inc. It has now become an active real-time case study for all the legal diaspora of the country.
It took approximately 600 work days to call off the Rs 24,713 crore takeover of the Future Group’s assets spanned across retail, wholesale, and logistics businesses. A negative vote by the secured creditors of the Future Group’s landmark vertical Future Retail clinched the calling off. This meant that the financial muscle behind Big Bazaar and Easyday Stores did not believe the deal terms worthy of their vote.
Please click here to read the full article by Sidharrth Shankar, published in Outlook Money.
Sidharrth is the Co-Chair of the Corporate Practice at JSA. He specializes in General Corporate Commercial, Mergers & Acquisitions and Private Equity.