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Delhi High Court puts on hold arbitration between Amazon, Future, Marketing & Advertising News, ET BrandEquity

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Delhi High Court puts on hold arbitration between Amazon, Future, Marketing & Advertising News, ET BrandEquity

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 The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance
The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter’s Rs 24,500-crore deal with Reliance

An Indian court on Wednesday halted Future Group’s ongoing arbitration with estranged partner Amazon.com Inc in light of an Indian antitrust agency’s suspension of a 2019 deal between the two sides.

The U.S. company successfully used the terms of its 2019 investment in a Future unit to block the Indian retailer’s attempt to sell retail assets to rival Reliance Industries , alleging breach of certain contracts.

But after the antitrust agency suspended the 2019 deal last month citing supression of information by Amazon while seeking clearances, Future argued there was no legal basis for the arbitration between the two sides to continue.

A two-judge bench of the Delhi High Court on Wednesday agreed with Future’s arguments, putting the arbitration proceedings on hold.

Armed with a December antitrust ruling against Amazon, Future Retail has petitioned the Delhi High Court and the arbitration tribunal in Singapore saying that continuing arbitration would be illegal…

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