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India court dismisses Future’s plea to declare arbitration with Amazon illegal -Breaking

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© Reuters. FILEPHOTO: Amazon’s logo was pictured in Bengaluru (India), April 20, 2018, by Abhishek N. Chinnappa. REUTERS/AbhishekN. Chinnappa

MUMBAI (Reuters: An Indian court dismissed Future Retail’s appeal to end arbitration proceedings against its warring counterpart Amazon.com Inc. (NASDAQ:) as unlawful.

Future requested that a New Delhi court rule be made after Future claimed that, given India’s Antitrust Agency had stopped a 2019 Amazon deal to claim rights over Future, the legal basis for arbitration between these two parties was not to continue.

Justice Amit Bansal, Delhi High Court, stated Tuesday that the filings had been dismissed without providing further information.

On Tuesday evening, we will release a written order.

Amazon and Future have been engaged in legal fights for many months. American company successfully used its 2018 $200 million Future investment to stop Indian retailer Reliance Industries’ attempt to buy retail assets from it.

Future denied any wrongdoing.

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