Lawstreet Journal

All you need to know about the ongoing Legal Tussle between Amazon and Future Group

Lawstreet Journal 21 Nov 2020 12:05am

Image courtesy: Lawstreet Journal Business All you need to know about the ongoing Legal Tussle between Amazon and Future Group

The tussle between Future Group and Amazon Company over the former’s Rupees 24,713 crore deal with Reliance Industries Limited (RIL) is snowballing, with the two litigants adopting the dual strategy of pursuing this case in Indian courts as well as at the Singapore International Arbitration Centre (SIAC).

A lawyer for Future Retail Limited, on Thursday (which Thursday?) told the Delhi High Court that Amazon Company is interfering with its lawful business. The lawyer again argued that due to these problems thousands of people may lose jobs and Future Retail Limited may go bankrupt. The judicial authority i.e. Delhi High Court is to hear Future Retail's suit related to its deal which it signed previously with Reliance.

At first, it is very clear that Amazon has not filed any legal case in India against the Future Group to date. Apart from that, it has approached the Singapore International Arbitration Centre (SIAC) alleging that the Future Group breached the contract signed by Amazon and Future Group last year by selling a stake to Reliance.

It was recently passed by an Emergency Arbitrator of the Singapore International Arbitration Centre (SIAC) in the favour of Amazon. The arguments from the legal counsels of the companies continued on the third day. The whole matter was heard by Justice Mukta Gupta. The court adjourned its hearing till November 19, 2020, according to the information available on the law platform Bar & Bench.

What is Reliance Industries Limited-Future Group deal?

Significantly, Reliance Retail Venture Limited (RRVL), a subsidiary of Reliance Industries, has… Continue Reading...

Tagged: Amazon  
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