sources

Future Retail

09/01/2022 07:20

(Adds Supreme Court move by Amazon)
    By Aditya Kalra
    NEW DELHI, Jan 9 (Reuters) - Amazon.com Inc  AMZN.O  has
filed fresh legal challenges in its long-running dispute with
Indian retailer Future Group after the national antitrust agency
suspended a 2019 deal between the two sides, leading to a halt
in their arbitration, four sources told Reuters on Sunday.
    The Competition Commission of India (CCI) last month
suspended its approval of Amazon's 2019 deal with Future,
denting the U.S. e-commerce giant's attempts to block the sale
of Future's retail assets to Indian market leader Reliance
Industries  RELI.NS .
    The suspension https://reut.rs/34DDiJf jolted Amazon as
subsequently a New Delhi court halted the arbitration
proceedings https://reut.rs/33d4ZYr between the two sides.
    Late on Saturday night, Amazon filed an appeal against the
CCI suspension decision at India's National Company Law
Appellate Tribunal, two of the sources said.
    Separately, two other sources said, Amazon also filed a
challenge in the Supreme Court against the Delhi court https://reut.rs/33d4ZYr
 decision in which judges last week that said Future-Amazon
arbitration proceedings must remain on hold until Feb. 1 in
light of the antitrust suspension of the deal.
    Amazon and the CCI did not immediately respond to requests
for comment.
    The filings are the latest in the bitter legal dispute which
has embroiled Amazon, Future and Reliance over what is seen as a
battle for retail supremacy in India's booming consumer market. 
    Reliance, run by one of India's richest men Mukesh Ambani,
wants to expand its footprint by acquiring debt-laden Future,
but Amazon has told India's antitrust body https://reut.rs/3G8WbkU
 it believes Reliance's consolidated position "will further
restrict competition in the Indian retail market".
    Amazon has long argued that Future violated the terms of its
2019 deal in deciding to sell retail assets to Reliance. The
U.S. company's position has so far been backed by the Singapore
arbitrator and Indian courts. Future denies any wrongdoing.
    But after the CCI suspended that deal's approval, saying
Amazon suppressed information while seeking clearances for the
deal, Future has argued Amazon no longer has any legal basis to
pursue the dispute.
    Both of Amazon's appeals, to the Indian tribunal and Supreme
Court, are likely to be heard in coming days, two of the sources
said.

 (Reporting by Aditya Kalra in New Delhi; Editing by Ana
Nicolaci da Costa and Lincoln Feast.)
 ((aditya.kalra@tr.com; +91-11-49548021; Twitter @adityakalra;))