Ambika Bhardwaj
Published On: January 03, 2022 at 16:00 IST
Future Retail in India has asked a New Delhi Court to declare currently underway Arbitration process with Amazon.com unlawful, claiming that the country’s antitrust agency dissolved a 2019 agreement that Amazon used to affirm its rights over Future.
Amazon effectively implemented the terms of its $200 million investment in debt-ridden Future to the Indian retailer’s effort to sell retail assets to a competitor, allegations of fraud of certain contracts.
However, the Indian antitrust body, the Competition Commission of India, suspended the 2019 deal in December, claiming that Amazon repressed details while trying to seek permissions.
The long-running disagreement is being got to hear by a Singapore arbitration panel, but both parties have been constantly battling parallel Cases in Indian Courts to impose or overturn the arbitrator’s decisions.
In its most recent filing in New Delhi, Future Retail claims that because the 2019 deal no longer has antitrust approval, it has “no legal identity” in India and Amazon must no longer affirm any of its privileges.
The Case is expected to be listened by Judges in the week. Amazon and Future did not respond to requests for comment. According to the filing, Future’s plea to the Delhi High Court emerges after the Singapore arbitration panel failed to agree to immediate demands to end the Court action.