India's Future Retail asks court to declare arbitration with Amazon illegal

By Aditya Kalra and Abhirup Roy

Technology
Monday, 03 Jan 2022
2:06 PM MYT

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FILE PHOTO: REUTERS/Abhishek N. Chinnappa

MUMBAI (Reuters) -India's Future Retail has asked a New Delhi court to declare arbitration proceedings in Singapore with Amazon.com as illegal, arguing that India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future.

Amazon successfully used the terms of its toehold $200 million investment in debt-laden Future to block https://reut.rs/3FS0roN the Indian retailer's attempt to sell retail assets to a rival, alleging breach of certain contracts.

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India's Future Retail asks court to declare arbitration with Amazon illegal