Reliance calls off $3.4b deal with Future Group

India's top retailer Reliance on Saturday called off its $3.4 billion deal with Future Group, saying it "cannot be implemented" after Future's secured creditors rejected it.

The deal was at the centre of legal battles since 2020 after Future's partner Amazon.com Inc legally blocked it, citing violation of certain contracts. Future denied any wrongdoing.

In a stock exchange filing on Saturday, Reliance said the deal now cannot go through as "the secured creditors of FRL (Future Retail) have voted against" it.