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Amazon said, file new legal challenges in dispute with Future Group over Reliance deal

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Amazon has filed new legal challenges with Indian retailer Future Group in its long-running dispute with Indian retailer Future Group, after the national adversary agency suspended a 2019 deal between the two parties, which has blocked their arbitration. Sources told Reuters on Sunday.

The Competition Commission of India (CCI) last month suspended its approval of Amazon’s 2019 deal with Future, prompting US e-commerce giant’s efforts to halt the sale of Future’s retail assets to Indian market leader Reliance Industries. I smelled.

The suspension shook Amazon as a New Delhi court later halted arbitration proceedings between the two parties.

Late on Saturday, Amazon filed an appeal against the CCI’s suspension decision in India’s National Company Law Appellate Tribunal, two sources said.

Separately, two other sources said, Amazon also filed a challenge in the Supreme Court against a Delhi court’s decision by judges last week to hold Future-Amazon arbitration proceedings until February 1 in light of the deal’s no-confidence suspension. Should be known

Amazon and CCI did not immediately respond to requests for comment.

The filings are the latest in a bitter legal dispute that has embroiled Amazon, Future and Reliance in what is seen as a battle for retail supremacy in India’s fast-growing consumer market.

Reliance, run by one of India’s richest men, Mukesh Ambani, is looking to expand its footprint by acquiring debt-ridden Future, but Amazon has told India’s antitrust body that it believes Reliance’s The consolidated position will “further restrict competition in the Indian retail market”.

Amazon has long argued that Future violated the terms of its 2019 deal in deciding to sell its retail assets to Reliance. The US company’s position has so far been supported by Singapore arbitrators and Indian courts. Future denies any wrongdoing.

But after the CCI suspended approval of that deal, Amazon suppressed the information seeking approval for the deal, with Future arguing that Amazon no longer had any legal basis to pursue the dispute.

Two of the sources said both Amazon’s appeals in the Indian tribunal and the Supreme Court are likely to be heard in the coming days.

© Thomson Reuters 2022


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