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Delhi High Court Denies Future’s Push to Rule Amazon Arbitration Illegal – PYMNTS.com

The Delhi High Court on Tuesday (Jan. 4) denied Future Retail’s effort to rule its arbitration hearings with eCommerce behemoth Amazon illegal, according to a Reuters report.
Future had pinned its hopes on the ruling, pleading with a New Delhi judge that, since India’s antitrust agency had suspended the company’s 2019 that gave Amazon rights over Future, the arbitration process was moving forward without any legal basis.
Delhi High Court Justice Amit Bansal acknowledged the dismissal of Future’s appeal but didn’t give any additional details for the reasons behind it. The panel is expected to release a written order on the dismissal later on Tuesday.
Using the terms included in its $200 million investment in Future, Amazon blocked the Indian retailer from selling retail assets to rival Reliance Industries, saying the attempt represented a breach of some of the contracts the companies had with each other. Future denies any wrongdoing in that case.
Related: Future Retail Wants Amazon Arbitration Ruled Illegal
The Competition Commission of India suspended Amazon’s 2019 deal with Future in December, saying the retail behemoth had suppressed information while seeking approvals for the agreement.
The arbitration between Amazon and Future is being heard by a panel in Singapore, but both sides have also been waging legal war in India to press for enforcement or overruling on certain decisions taken by the arbitrator.
Also read: Future Retail Feels Financial Momentum
Last month, the Competition Commission of India said plans by Reliance Industries Ltd. to buy Future don’t violate a 2019 agreement between Amazon and Future.
Amazon had argued that billionaire Mukesh Ambani’s move to buy Future violates the 2019 agreement between the companies.
See more: India’s Future Retail Urges Antitrust Regulator to Revoke Amazon Deal
With its purchase of the stake in Future Coupons, Amazon obtained an option to buy all or part of its share in Future Retail. Amazon acquired the stake in Future Coupons in August 2019. An Amazon spokesperson said at the time that the investment would “enhance Amazon’s existing portfolio of investments in the payments landscape in India.”
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