Indian court agrees to send Future Retail into bankruptcy in another setback for Amazon

An Indian court on Wednesday ordered the initiation of insolvency process against Amazon’s estranged partner Future Retail in yet another setback for the American e-commerce group in the key overseas market.
The National Company Law Tribunal’s verdict (PDF) on the petition filed by Bank of India will allow the creditors to find a new owner for Future Retail, which once ran India’s second largest retail chain and attempted to sell most of its business to Reliance Industries for $3.4 billion. Amazon India, long stuck in the legal battle with Reliance and Future, had filed an interven

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