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Indian court puts on hold arbitration between Amazon, Future -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is a woman shopping in Mumbai’s Big Bazaar, India on November 25, 2020. REUTERS/Niharika Kulkarni

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NEW DELHI, (Reuters) – Future Group’s arbitration with its estranged partner Amazon.com Inc was halted by an Indian court Wednesday due to the suspension of a deal between them and India’s antitrust agency in 2019.

To stop Reliance Industries’ attempt to buy Indian retail assets, the U.S. firm used its terms of 2019 investment in Future to successfully block Reliance Industries from using them.

Future claimed that there wasn’t a legal basis to allow the arbitral proceedings between the sides to continue after Amazon sued the antitrust office for suppressing information.

On Wednesday, the Delhi High Court’s two-judge bench endorsed Future’s argumentation and put the arbitration proceedings in limbo.

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