Extending the interim stay for e-commerce giant, the Supreme Court on Friday scheduled the final hearing on Amazon s plea in December after senior counsel Gopal Subramanium said the case needs detailed hearing.
Apple has emerged as the largest exporter of smartphone shipments from India, after overtaking its closest rival Samsung. In just a year, its share rose from 9% of the total shipments in 2022 to nearly 50% in 2023.
The Supreme Court extended its stay on the recovery of the 202-crore penalty imposed by the Competition Commission of India on Amazon.Com NV Holdings for its 2019 purchase of 49% stake in a Future group entity.
Future and Amazon have been engaged in a legal tussle after the latter dragged the former into arbitration at the Singapore International Arbitration Centre (SIAC) on October 2020.
When parties subject themselves to rules which recognise an emergency arbitrator, then the order of such an arbitrator will be valid in Indian courts, the Supreme Court has held in the Future Retail Ltd. versus Amazon.com NV Holdings LLC case on Friday.