Amazon's Dispute With Future Group Over Reliance Deal: Reports New Legal Challenges
Amazon is said to have filed new legal challenges in dispute with Group Company of India over the Reliance deal.
Recently, the National Antitrust Agency has suspended the deal of Amazon and Indian Retailer Future Group of 2019, the resources Reuters has witnessed the new fresh legal challenges by the Amazon Company
Highlighted Facts
- After, the CCI suspended the deal of both the company, Amazon filed an appeal against the CCI decision.
- In the long dispute, this filing of appeal has been a new step in dispute.
- The company, Amazon has long argued that the Indian Retailer Company Future violated the terms of its 2019 deal.
Also Read: Amazon-Future Deal Slapped with Rs. 200 Crore Fine and Suspension by Competition Commission of India
Last month the Competition Commission of India (CCI) has denied the approval of Amazon’s deal of 2019 with the Future Group that was based on denting the US e-commerce giants attempt to block the sale that is to be confirmed with the Future Group and Reliance, India’s leading market industries.
The suspension has resulted in a shock and after the Delhi Court has halted the arbitration proceedings of both the companies.
More recently on Sunday, evening Amazon has filed an appeal for the cancellation of the suspension, ordered by the CCI. The appeal by Amazon has been filed in front of India’s National Company Law Appellate Tribunal, and the info is recognized by the two Reuters.
Both Amazon and CCI have not commented on the matter, recently.
The Move by the Reliance, India’s Richest Man Mukesh Ambani’s company shows the expansion of his Brand, and hence it can be clearly shown in the interest in which Reliance has tried to acquire the debt-laden Future Group. Against this, Amazon has told India’s antitrust body and the words Reliance consolidated position “Will Further restrict competition in the Indian Retail Market”.
The dispute has already faced the suspension of its appeal of Amazon to revoke his suspension over the deal, the suspension consisted of the reason of hiding the crucial facts and deal-related information by Amazon. And it said that Amazon didn’t have any legal base in the persuasion of the dispute. The ongoing arbitration between both the companies are going on in the Indian Tribunal and Supreme Court of India and these are to be listed soon.
The company, Future Group has denied the accusation imposed by Amazon and said it didn’t commit any wrong.
