Report by Tanya Singh:
E-commerce Amazon has moved Supreme Court against Future-Reliance Retail deal, challenging the lifting of “status quo” orders by the division bench of Delhi High Court.
NEW DELHI: Amazon.com Inc has mounted a legal challenge against its partner Future Group‘s $3.4 billion retail assets sale in the Supreme Court, two sources told Reuters on Thursday, marking the US firm’s latest effort to block the deal.
Amazon, locked in legal disputes with Future, alleges the Indian firm violated contracts by agreeing to sell its retail assets to Reliance Industries last year. Future denies any wrongdoing.
Delhi high court this week dealt a blow to the US firm by revoking a previous court decision that effectively blocked the deal, and Amazon has filed an appeal against it in the Supreme Court in the capital city, the three sources said.
The court also recorded that as part of Amazon’s investment agreement into Future Coupons, Future Retail was not a signatory to that investment agreement.
On Tuesday, Future Group had filed a caveat before SC requesting to be heard if Amazon files a plea.
