Amazon’s agreements with Future Group seem contrary to FDI policy, Says Delhi High Court.December 21, 2020
Last year, Amazon.com NV Investment Holdings had invested in Future Group by acquiring a 49% stake in Future Coupons. At the time, Future Coupons and Future Retail also entered into a shareholders’ agreement.
It said Future Retail will require prior approval from Future Coupons on certain matters. These include transfer or licence of all or substantially all of the assets of Future Retail or material assets; transfer of assets above a certain threshold to a related party; amendment of articles of association in conflict with the terms of the shareholders’ agreement, etc.