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Indian court dismisses Future Group's plea against Amazon.com

Indian court dismisses Future Group's plea against Amazon.com

FILE PHOTO: A man walks inside the Big Bazaar retail store in Mumbai, India, Nov 25, 2020. (Photo: REUTERS/Niharika Kulkarni)

MUMBAI: The New Delhi High Court on Monday (Dec 21) dismissed India's Future Retail's plea that sought to restrain its partner Amazon.com from interfering in its US$3.4 billion asset sale deal with Reliance Industries.

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries. The deal breaches agreements made in 2019 by Future, according to the US online retailer.

In October, Amazon had won an injunction to halt Future's deal with Reliance from a Singapore arbitrator both sides had agreed to use in case of disputes.

Future later said the order was not binding, prompting Amazon to lodge a complaint with India's market regulator.

Amazon cannot be barred from writing to regulators on account of potentially irreparable damage, Justice Mukta Gupta of the Delhi High Court said in the verdict.

Source: Reuters/kv

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