Trade Hits: 2042

Amazon-Future's S'pore arbitration case: Delhi HC stays

Trade Hits: 2042
Amazon-Future's S'pore arbitration case: Delhi HC stays
Trade Hits: 2042

06 January 2021, Mumbai:

Takes Note Of Some CCI Findings Against US E-Tailer Amazon

Prima Facie There's A Case In Future Group's Favour: HC

Taking note of some of the findings of the Competition Commission of India (CCI) against Amazon, the Delhi high court on Wednesday stayed the Amazon Future arbitration before a Singapore tribunal.

Amazon-FRL Case : Delhi High Court To Proceed With Single Bench Order If No Stay Granted By SC To Future Group

A bench of Chief Justice DN Patel and justice Jyo- ti Singh cited certain paragraphs in the CCI order on "suppression of material facts by Amazon to underline that there is a prima fa-cie case in favour of Future Retail (FRL) and Future Coupons (FCPL) and if a stay is not granted, it will cause an irreparable loss to them.

The HC said the balance is also in favor of appellants and further stayed the order passed by a single judge.

The arbitration is going on before a three-member arbitral tribunal over the Future group's Rs 24,500- crore deal with Reliance.

SOURCE: TOI Dt 06-01-2021

(The news article has not been edited by DFU Publications staff)

 

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