Amazon in Legal Battle Over Future Group-Reliance Deal, Petitions Supreme Court
Amazon said a decision in October 2020 by an arbitrator in Singapore, who had put the Future-Reliance deal on hold, is applicable under Indian laws.
| 11 Feb 2021 8:30 AM GMT
NEW DELHI: Amazon has approached the Supreme Court in a bid to stop Future Group s $3.4 billion retail assets sale to Reliance Industries. This comes days after the Delhi High Court overturned a previous single judge decision that effectively blocked the deal. The high court order was a provisional one and the next hearing is scheduled on February 26.
The high court allowed procedures before the Competition Commission of India and the Securities and Exchange Board of India to go ahead, a move opposed by the US-based retail giant, which said once the matter goes through the regulators then there could be no return.