×
178
Fashion Jobs
AESOP
Retail Consultant | Part-Time (30 Hours) & Full-Time | Aesop City of Stockholm
Permanent · STOCKHOLM
ASICS
Sales Representative
Permanent · Stockholm
PUMA
Senior Key Account Manager Sportstyle Nordic
Permanent · Solna
H&M
Global Head of Marketing h&m Sport
Permanent · Stockholm
H&M
Project Leader For Material Certification And Material Trademark Within Group Compliance
Permanent · Stockholm
PUMA
Project Manager IT Sap
Permanent · Solna
PUMA
Senior Manager Merchandising Puma Golf Europe
Permanent · Solna
H&M
Art Director – h&m Group Communications
Permanent · Stockholm
H&M
Data Analyst to Predictive Analytics Team @h&m Business Tech
Permanent · Stockholm
H&M
Data Analyst to an Inventory Optimization Team in Business Tech
Permanent · Stockholm
H&M
Business Minded Data Specialist to h&m Group
Permanent · Stockholm
H&M
Scrum Master (Service Now) to Support And Operations Toolings Team at h&m Business Tech
Permanent · Stockholm
H&M
we Are Looking For Business Intelligence Analysts to Group Expansion, h&m
Permanent · Stockholm
H&M
Business Intelligence Analyst
Permanent · Stockholm
H&M
Cyber Security Trainer
Permanent · Stockholm
H&M
Security Advisor
Permanent · Stockholm
H&M
h&m is Looking For a Business Expert For Allocation Precision
Permanent · Stockholm
H&M
Power bi Specialist to Kpi Dashboards Within Business Tech
Permanent · Stockholm
H&M
ai Learning & Development Manager
Permanent · Stockholm
H&M
Import-Export Manager to h&m Distribution Centre in Eskilstuna
Permanent · Eskilstuna
H&M
Scrum Master to Support & Operation Tooling, Monitoring & Insights Team at h&m Business Tech
Permanent · Stockholm
H&M
Business Expert Full-Stack 3d Garment Specialist
Permanent · Stockholm
By
Reuters
Published
Jan 5, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Indian court halts Amazon, Future arbitration in blow to U.S. giant

By
Reuters
Published
Jan 5, 2022

A Delhi court has halted arbitration proceedings between India's Future Group and its estranged U.S. partner Amazon in light of the national antitrust agency's suspension of a 2019 deal between the two sides.

The decision on Wednesday is a setback for U.S. e-commerce giant Amazon, which had successfully used the terms of its 2019 investment in a Future unit to block the Indian company's attempt to sell retail assets to a rival.


The decision on Wednesday is a setback for U.S. e-commerce giant Amazon, which had successfully used the terms of its 2019 investment in a Future unit to blockthe Indian company's attempt to sell retail assets to a rival - Shutterstock


But after the Competition Commission of India (CCI) suspended the 2019 deal last month, citing suppression of information by Amazon while seeking clearances, Future argued there was no legal basis for the arbitration between the two sides to continue in Singapore.

A two-judge bench led by Chief Justice D. N. Patel of the Delhi High Court agreed with Future's arguments, putting the arbitration proceedings on hold. If the proceedings are not halted, Justice Patel said this would cause an "irreparable loss" to Future.

"We hereby stay further proceedings of arbitral tribunal till next date of hearing," said Patel, adding the court will reconvene on Feb. 1 to hear the case again.

Future and Amazon did not respond to requests for comment.

A source familiar with the case said that Amazon was likely to legally challenge the Delhi High Court's decision.

The long-running dispute is being heard by a Singapore arbitration panel, but the so-called "seat of the arbitration" is New Delhi, meaning proceedings are governed by Indian law.

Amazon has long argued that Future violated the terms of its 2019 deal in deciding to sell retail assets to market leader Reliance Industries, and the U.S. company's position had so far been backed by the Singapore arbitrator and Indian courts. Future denies any wrongdoing.

The dispute over Future Retail, which has more than 1,500 supermarket and other outlets, is a flashpoint between Jeff Bezos' Amazon and Reliance, run by tycoon Mukesh Ambani, as they try to gain the upper hand in Indian retail.

Future had approached the Delhi High Court after the Singapore arbitration panel did not agree to its immediate demands to terminate the proceedings after antitrust suspension of the 2019 deal.
Amazon has said it will legally challenge the CCI's suspension of the 2019 deal.

Future has said it is staring at liquidation if the Reliance asset sale deal fails after its retail businesses were hit hard during the COVID-19 pandemic.

© Thomson Reuters 2022 All rights reserved.