Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance
CNNNew Delhi CNN Business — India’s top court has handed Amazon a major victory in its fight with Reliance Industries for the country’s growing e-commerce market. On Friday, the Supreme Court of India ruled in favor of the American company’s efforts to stop its rival Reliance from buying Future Retail, a local, cash-strapped retailer. Future Group had raised questions about the validity of the Singapore court’s order in India, but the country’s Supreme Court ruled Friday that it is enforceable. When asked for comment, Reliance sent CNN Business a copy of Future Retail’s statement, which said the retailer “intends to pursue all available avenues to conclude the deal to protect the interests of its stakeholders and workforce.” Since the deal was announced, Amazon has argued that the deal violated an agreement that it made with another entity owned by Future Group.