A division bench of Delhi High Court on Wednesday stayed Amazon’s arbitration proceedings in Singapore Tribunal against Future Group. This came after a single judge bench yesterday dismissed Future Group petitions seeking to end Amazon arbitration.
In its plea, the Future group has challenged the court’s January 4 order that dismissed its petition seeking quashing of arbitration proceedings that were initiated by Amazon in the Singapore International Arbitration Centre.
Currently, a dispute between Future Group and Amazon is underway at the Singapore arbitration panel, but both sides have been fighting parallel cases in various courts to enforce or overrule certain decisions taken by the arbitrator.
Amazon has 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.
On December 18, the CCI in its order had suspended its approval of Amazon’s deal with Future Coupons Ltd and asked the US-major to furnish additional documents.
CCI had imposed a fine of ₹200 crore on the US giant for allegedly making “false and incorrect statements” while seeking an approval for the deal between itself and Future Coupons.
The Delhi court noted that there is a case in favour of Future Group which asked for arbitration with Amazon be declared illegal.
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