• Tuesday, Aug 03, 2021
  • Last Update : 12:45 am

Future Retail challenges Amazon in court over Reliance deal

  • Published at 04:40 pm November 8th, 2020
Amazon
A shipment moves on a conveyor belt at an Amazon Fulfillment Centre (BLR7) on the outskirts of Bengaluru, India REUTERS

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries Ltd

Future Retail has challenged its partner Amazon.com Inc in a New Delhi court to stop interfering in its $3.4 billion asset sale deal, the Indian company said in a statement on Saturday.

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

Amazon last month 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 wasn’t binding, prompting Amazon to lodge a complaint with India’s market regulator.

The Delhi High Court was asked on Saturday to block Amazon from “misusing” the arbitration order to interfere in the Reliance deal, Future said in a filing to the stock exchange.

While further details about the challenge were not disclosed, the filing said it had made all entities who were part of the arbitration proceedings as parties to its latest suit, but was seeking relief only against Amazon.


Also read: OP-ED: The underlying truth of Amazon


Amazon did not immediately respond to a request for comment.

 The dispute has strained Amazon’s ties with one of India’s leading retailers as well as with Ambani, Asia’s richest man, and his Reliance group, which is fast expanding its e-commerce business and is a potential rival to Amazon.

Amazon says its 2019 deal in which it invested nearly $200 million in a Future unit had clauses saying the Indian group could not sell its retail assets to anyone on a “restricted persons” list, which included Reliance.

Future has said the deal with Reliance was critical to rescue its ailing retail business which has been hit by the Covid-19 pandemic.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail