Future Retail has moved a petition in the Delhi High Court asking the court to quash Amazon’s arbitration proceedings as illegal. This comes even as the Competition Commission of India put the 2019 deal between Amazon and Future Coupons in abeyance.
Amazon had alleged that the 2019 deal gave Amazon rights over Future Retail’s assets. On the other hand, Future Retail had decided to sell its assets to Reliance Industries. According to Amazon, Reliance was a restricted party.
Armed with CCI’s order nullifying Amazon’s investments in Future Coupons, the Kishore Biyani-led Future group has filed a new appeal with Delhi High Court to quash the ongoing proceedings against the Future-Reliance deal. Future has argued that since the 2019 deal with Amazon was illegal, the American company has no legal ground to object to the deal with Reliance.
.