India’s Future Retail has asked a New Delhi court to declare arbitration proceedings in Singapore with Amazon.com as illegal, arguing that India’s antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future.
Amazon successfully used the terms of its toehold US$200 million investment in debt-laden Future to block the Indian retailer’s attempt to sell retail assets to a rival, alleging breach of certain contracts, reported Reuters.
But the Indian antitrust body, the Competition Commission of India, in December suspended the 2019 deal stating Amazon suppressed information while seeking approvals.
The long-running dispute is being heard by a Singapore arbitration panel, but both sides have been fighting parallel cases in Indian courts to enforce or overrule certain decisions taken by the arbitrator.
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