×
80 198
Fashion Jobs
FOOT LOCKER
National Sales Manager – Digital
Permanent · Bradenton
NORDSTROM
Asset Protection - Agent - Great Lakes Crossing Rack
Permanent · Auburn Hills
NORDSTROM INC
Manager - Asset Protection - San Bernardino Fulfillment Center
Permanent · San Bernardino
NORDSTROM
Asset Protection - Agent - The Shops at la Cantera
Permanent · San Antonio
SALLY BEAUTY CORPORATE
sr. Manager Category Marketing
Permanent · Denton
TJ MAXX
70118-lp Detective
Permanent · Philadelphia
MARSHALLS
Loss Prevention Detective
Permanent · San Diego
HOMEGOODS
70118-lp Detective
Permanent · Bay Shore
MARSHALLS
Loss Prevention Detective
Permanent · Lakewood
FOOT LOCKER
Overnight Assistant Operations Manager
Permanent · Greensboro
BATH & BODY WORKS
Buyer Procurement
Permanent · Columbus
BATH & BODY WORKS
Senior Procurement Manager, Information Technology
Permanent · Columbus
BATH & BODY WORKS
Senior Buyer, IT Procurement
Permanent · Columbus
BATH & BODY WORKS
Maintenance Manager
Permanent · Columbus
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Crestwood
KOHLS
Category Sales Account Manager - Kohl's Media Network *Remote*
Permanent · Menomonee Falls
KOHLS
Manager, Category Account Sales - Kohl's Media Network *Remote*
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Associate
Permanent · Findlay
KOHLS
Product Manager ii
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Albuquerque
KOHLS
Compliance Analyst
Permanent · Menomonee Falls
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Albuquerque
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.