Amazon Obstacles Hang On Arbitration With Future In Supreme Court

INSUBCONTINENT EXCLUSIVE:
In 2019, Amazon had entered into a deal worth Rs 1,430 crore with Future.New Delhi: US retail giant Amazon has challenged the Delhi High
Court order that stayed the Singapore arbitration proceedings against Future Group in the Supreme Court
In addition, Amazon has also filed an appeal against the Competition Commission of India suspension decision at the National Company Law
Appellate Tribunal (NCLAT), news agency Reuters reported citing sources.The antitrust body CCI last month suspended its approval of Amazon's
2019 deal with Future, denting the United States e-commerce giant's attempts to block the sale of Future's retail assets to Indian
market leader Reliance Industries.The filings are the latest in the bitter legal dispute which has embroiled Amazon, Future and Reliance
Industries over what is seen as a battle for retail supremacy in India's booming consumer market.Reliance, run by billionaire Mukesh
Ambani, wants to expand its footprint by acquiring debt-laden Future, but Amazon has told India's antitrust body it believes Reliance's
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 retail assets to Reliance
The United States company's position has so far been backed by the Singapore arbitrator and Indian courts
Future denies any wrongdoing.But after the CCI suspended that deal's approval, saying Amazon suppressed information while seeking
clearances for the deal, Future has argued Amazon no longer has any legal basis to pursue the dispute.In 2019, Amazon had entered into a
deal worth Rs 1,430 crore with Future
As a part of the deal Amazon had acquired 49 per cent stake in Future Coupons, the promoter firm of Future Retail.