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

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

December 21, 2020

MUMBAI (Reuters) – The New Delhi High Court on Monday dismissed India’s Future Retail’s plea that sought to restrain its partner Amazon.com Inc from interfering in its $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 U.S. 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.

(Reporting by Swati Bhat; Editing by Himani Sarkar)

The post Indian court dismisses Future Group’s plea against Amazon.com first appeared on One America News Network.

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