New Delhi: The Delhi High Court on Wednesday stayed the Future GroupThe ongoing arbitration with separate partner Amazon comes in light of the Competition Commission of India (CCI) postponing the 2019 deal between the two parties.
The US company successfully used the terms of its 2019 investment in Future Unit to stop an Indian retailer’s attempt to sell its retail assets to a rival Reliance Industries Alleged breach of certain contracts.
But the antitrust agency suspended the 2019 deal last month, citing suppression of information by Amazon while seeking approval, with Future arguing that there was no legal basis for the two parties to continue arbitration. Was.
A two-judge bench of the Delhi High Court on Wednesday agreed with Future’s arguments and stayed the arbitration proceedings.
The US company successfully used the terms of its 2019 investment in Future Unit to stop an Indian retailer’s attempt to sell its retail assets to a rival Reliance Industries Alleged breach of certain contracts.
But the antitrust agency suspended the 2019 deal last month, citing suppression of information by Amazon while seeking approval, with Future arguing that there was no legal basis for the two parties to continue arbitration. Was.
A two-judge bench of the Delhi High Court on Wednesday agreed with Future’s arguments and stayed the arbitration proceedings.
,