Securities and Exchange Board of India (SEBI) has issued notice to Future Enterprises asking it to pay over Rs 5 lakh in a matter pertaining to disclosure lapses about initiation of arbitration proceedings against Future Group by Amazon. The regulator also warned the company of attachment of assets and bank accounts if it fails to make the payment within 15 days.
Future Enterprises develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.
