Amazon asked for $40 million to let go of its 'right of first refusal': Future Group

Future Group has alleged that ecommerce giant Amazon sought $40 million to drop its right of first refusal to buy the Indian retailer's assets in Future Retail.

Abhijeet Mazumdar, head of corporate development and private investments at Amazon, had made a verbal offer to Future Group Chief Executive Officer Kishore Biyani  citing documents submitted with the Indian retailer with  Singapore International Arbitration Centre (SIAC).

It is also said that Mazumdar, on behalf of the company, asked for "$40 million as compensation in exchange for the Future Group and Reliance proceeding with the disputed transaction."