38.6c New Delhi, India, Friday, June 09, 2023
Top Stories
Interviews Know The Law Book Reviews Videos
About Us Contact Us
Business

Future Retail to Delhi High court, declare arbitration with Amazon illegal

By Lawstreet News Network      Jan 03, 2022      0 Comments      4,122 Views
Future Retail Delhi High court Amazon India

New Delhi, Future Retail argues that since the 2019 deal no longer has antitrust approval, it has "no legal existence" in India, and Amazon can no longer assert its rights at SIAC.

Future Retail (Big Bazaar) has asked the Delhi High court to declare ongoing arbitration proceedings with Amazon.com illegal. It argued that India's antitrust agency had suspended the 2019 deal that Amazon.com used to assert its rights over Future Group.

Amazon successfully used the terms of its toehold $200 million investment in debt-laden Future to block the attempt's attempt to sell retail assets to a rival. Alleging breach of certain contracts.

But the Competition Commission of India (the Indian antitrust body,) has suspended the 2019 deal in December, saying Amazon suppressed information while seeking approvals.

 



Tags:
Future GroupAmazonReliance IndustriesNew DelhiBig BazaarDelhi High Court
Share this article:


Lawstreet News Network
Editor
     



Leave a feedback about this




Related Posts
View All

TRENDING NEWS


TOP STORIES


ADVERTISEMENT


Lawstreet Advertisement

Signup for Our Newsletter

Get Exclusive access to members only content by email