Indian court dismisses Future Group's plea against Amazon.com

Agencies | Mumbai

The Daily Tribune – www.newsofbahrain.com

The New Delhi High Court on Monday dismissed India’s Future Retail’s plea that sought to restrain its partner Amazon.com Inc from interfering in its $3.4 billion asset sale deal with Reliance Industries.

Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries. The deal breaches agreements made in 2019 by Future, according to the U.S. online retailer, Reuters reported.

In October, Amazon had won an injunction to halt Future’s deal with Reliance from a Singapore arbitrator both sides had agreed to use in case of disputes.

Future later said the order was not binding, prompting Amazon to lodge a complaint with India’s market regulator.

Amazon cannot be barred from writing to regulators on account of potentially irreparable damage, Justice Mukta Gupta of the Delhi High Court said in the verdict.