New Delhi: Amazon Arbitration in the future that occurred before the Arbitration of the Arbitration of three members on the last absent agreement with reliance was stopped by the Delhi High Court today.
The 2019 agreement was suspended last month after the Antitrust Agency quoted information suppression by Amazon while looking for permission. The future argues there is no legal basis for the arbitration between the two sides to continue.
The Chairman of the Chairman of the Judge DN Patel and Justice Jyoti Singh said there was a case of the Prima Facie supporting the future Retail Applicant LTD (FRL) and future coupons PVT Ltd (FCPL) and if the stay was not granted, it would cause unrought losses. to them.
“We are still continuing the arbitration court process until the next hearing date and we also live one judge Judge January 4 to the next hearing date,” said the bench while including this problem to hear further on February 1.
US companies successfully used the provisions of 2019 investment in the future unit to block the efforts of Indian retailers to sell retail assets to rival the dependency industry, accuse a violation of certain contracts.
Amazon and future groups have been locked in bitter law. The Singapore International Arbitration Center (SIAC) is to try Amazon’s objection to Future Group’s ₹ 24,713 Crore Deal with Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd.
Amazon argued that FRL violated their contracts by entering an agreement for the sale of assets to the Ambani Reliance Reliance at the slump sales base for ₹ 24,500 crore.
In December, the Indian competition commission (CCI) suspended his approval over two years old for the Amazon agreement to obtain a 49 percent peg in the future coupon PVT Ltd (FCPL), promoter FRL, and also slapped the penalty. ~ Check ~ 202 Crore on major e-commerce.
Amazon objected to the sell-off plan, accusing future groups of violating the 2019 investment pact. The future coupons were founded in 2008, and were involved in the marketing and distribution of gift cards, loyalty cards, and other gift programs to corporate customers.
Some problems arising from the Battle of Amazon’s legal in the future are waiting before the Supreme Court.
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