Future Retail asked Delhi High Court to declare ongoing arbitration proceedings with Amazon.com illegal

Future Retail has asked a Delhi High Court to declare ongoing arbitration proceedings with Amazon illegal. According to Future Retail, India’s antitrust agency, Competition Commission of India had suspended the 2019 deal on the ground that Amazon suppressed information while seeking approvals. Amazon used this 2019 deal to assert its rights over Future Retail and to block its attempt to sell retail assets to Reliance Retail, a rival of Amazon. In its latest filing in Delhi High Court, 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 any of its rights. This dispute is being heard by a Singapore International Arbitration Centre, but both sides have been fighting parallel cases in India. Future Retail’s appeal to the Delhi High Court comes after the Singapore arbitration panel disagreed to terminate the proceedings immediately. Amazon’s position has so far been backed by the Singapore arbitrator and Indian courts. But antitrust suspension can make it easier for Future Retail to push through its attempts to sell retail assets to Reliance and weaken Amazon’s legal position.

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