The arbitration relates to a 2019 deal of Amazon acquiring a 49% stake in Future Coupons Private Limited and is one of the several legal disputes the companies are embroiled in.
The National Company Law Tribunal (NCLT), Mumbai Bench on ordered for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Future Retail.
The Delhi High Court today dismissed Future Retail's plea to declare arbitration proceedings with its warring partner Amazon as illegal. Justice Amit Bansal of the Delhi High Court said the filings were dismissed, without giving any further details.
E-commerce giant Amazon Wholesale India Private Limited (Amazon) has moved the Delhi High Court seeking quashing of investigation by the Enforcement Directorate (ED) into its 2019 deal with the Future Group.