Fashion

Amazon challenges India’s antitrust halt to future deal sources 2019


Via

Reuters API

Published



January 9, 2022

Amazon.com Inc has filed a legal challenge in an Indian court against the national antitrust agency suspending a 2019 agreement it had with the Indian retailer. Future group, two sources familiar with the matter told Reuters on Sunday.

Amazon has long argued that Future violated the terms of a 2019 agreement when it decided to sell retail assets to market leader Reliance Industries, and the US company’s position has so far been arbitrated. Singapore and Indian courts backed – Reuters

India’s antitrust authority suspended the approval of Amazon.com’s 2019 deal with Future Group last month, potentially hampering efforts by the US e-commerce giant to block the sale of assets. Future’s retail product to an Indian market leader.

The suspension startled Amazon because it later resulted in the halt of arbitration proceedings between the two parties in a protracted commercial dispute.

Amazon has long argued that Future violated the terms of a 2019 agreement when it decided to sell retail assets to the market leader. Reliance Industries, and the position of the US company has so far been supported by the Singapore arbitration and the Indian courts. Future denies any wrongdoing.

But the Competition Commission of India (CCI) last month suspended that deal, arguing that Amazon had withheld the information while seeking a justification for the deal at the time.

Two sources said Amazon had filed an appeal against the CCI’s decision in India’s National Company Law Court of Appeal on Saturday night.

One of these people said the appeal will be heard later this week.

Amazon did not immediately respond to a request for comment. CCI also did not respond.

© Thomson Reuters 2022 All rights reserved.

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