Big win for Amazon over rival Reliance in India top court battle
3 years, 4 months ago

Big win for Amazon over rival Reliance in India top court battle

Al Jazeera  

India’s Supreme Court blocks $3.4-bn deal struck by Reliance as battle to dominate country’s retail sector intensifies. US e-commerce giant Amazon has won a major legal victory in India as the country’s top court blocks a $3.4bn deal struck by domestic rival Reliance. Amazon, Walmart-backed Flipkart and Reliance, owned by Asia’s richest man Mukesh Ambani, are locked in a titanic battle to dominate online retail in the country of 1.3 billion people. Reliance struck a deal last year to buy assets belonging to Future Retail, India’s second-largest supermarket chain, owned by Future Group.

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India antitrust body seeks Supreme Court hearing to expedite Amazon, Flipkart cases
Trending News
2 weeks, 1 day ago

India antitrust body seeks Supreme Court hearing to expedite Amazon, Flipkart cases

Live Mint  

* India's antitrust body seeks Supreme Court hearing on challenges in Amazon, Flipkart probe * Twenty-three legal challenges filed by Samsung, Vivo and vendors over investigation * Antitrust body says challenges aim to scuttle its investigation By Aditya Kalra NEW DELHI, Dec 9 - India's antitrust body has asked the Supreme Court to hear legal challenges to an investigation of …

Flipkart, Amazon under scrutiny for foreign investment violations: Report
Trending News
1 month, 2 weeks ago

Flipkart, Amazon under scrutiny for foreign investment violations: Report

India Today  

The government is planning to summon executives from Flipkart and Amazon as part of a deeper investigation into possible violations of foreign investment rules, reported news agency Reuters. The action highlights the rising regulatory scrutiny faced by Walmart-owned Flipkart and Amazon, both of which are experiencing rapid growth in India’s Rs 70 billion e-commerce market. Following last week’s raids on …

India's Antitrust Raids Target Sellers on Amazon, Walmart's Flipkart
2 years, 7 months ago

India's Antitrust Raids Target Sellers on Amazon, Walmart's Flipkart

News 18  

India’s antitrust body launched raids early on Thursday against two top domestic sellers of online retail giant Amazon.com Inc, and some on Walmart’s Flipkart, following accusations of competition law violations, sources told Reuters. Indian retailers, key supporters of Prime Minister Narendra Modi, have long contended that Amazon and Flipkart‘s platforms benefit a few big sellers, via predatory pricing, though the …

Reliance abandons plans to buy Indian retailer amid challenges
2 years, 8 months ago

Reliance abandons plans to buy Indian retailer amid challenges

Al Jazeera  

Reliance’s decision to back out comes after almost two years of litigation as Amazon contested the takeover. In a filing Saturday, Reliance Industries Ltd. said its proposal to acquire certain assets of Mumbai-based Future Group — which ran the nation’s biggest retail grocery chain before the pandemic struck — “cannot be implemented” after its flagship firm Future Retail Ltd. failed …

'Dues of $634 million compelled' takeover of Future Retail, says Reliance
2 years, 8 months ago

'Dues of $634 million compelled' takeover of Future Retail, says Reliance

Hindustan Times  

India's top retailer, Reliance, has privately defended an abrupt takeover of the stores of debt-laden rival Future Retail, saying mounting dues of $634 million compelled it to act beyond expectations, a company letter shows. A woman wearing a Reliance JioMart vest instructs workers as they stock their products inside a Future Retail's closed Big Bazaar retail store in Mumbai. As …

Amazon vs Reliance: Future of retail supremacy in India hangs in balance
2 years, 9 months ago

Amazon vs Reliance: Future of retail supremacy in India hangs in balance

India Today  

Amazon and Future group have been locked in a complex legal stand-off for more than a year now. AMAZON TO SUPREME COURT Amazon has apprehended the "disappearance” of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL’s merger deal with Reliance Retail. A …

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute
2 years, 9 months ago

Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute

India Today  

Mukesh Ambani's Reliance Industries and US giant Amazon have been vying to get the upper hand in one of the world's fastest-growing retail markets, which is India. AMAZON-FUTURE DISPUTE AND RELIANCE In 2019, Amazon and Future, number two player in India behind market leader Reliance, became business partners when the US company invested $200 million in a unit of the …

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report
2 years, 9 months ago

Amazon Plans To File Criminal Case Against Future Over Store Transfers To Reliance, Says Report

ABP News  

New Delhi: US e-commerce giant Amazon Inc plans to start criminal proceedings against its Indian partner Future Retail this week for allowing transfer of assets to Reliance Industries despite a legal prohibition, quoting sources Reuters reported on Thursday. Amazon and Future Group have been tangled in a legal impasse for over a year that has stalled the Indian firm’s $3.4-billion …

Supreme Court issues notice to Future group on Amazon plea against Delhi HC stay
2 years, 10 months ago

Supreme Court issues notice to Future group on Amazon plea against Delhi HC stay

The Hindu  

The Supreme Court on Wednesday decided to consider a plea by e-commerce giant Amazon against a Delhi High Court stay on proceedings before a Singapore arbitral tribunal against Future group's ₹ 24,500 crore proposed deal with Reliance. The Hindu podcast | The battle between Reliance and Amazon for the Future of Indian retail A three-judge Bench led by Chief Justice …

FRL-Reliance merger: Supreme Court notice to Future group on plea of Amazon
2 years, 10 months ago

FRL-Reliance merger: Supreme Court notice to Future group on plea of Amazon

Deccan Chronicle  

New Delhi: The Supreme Court Wednesday sought a response from the Future group on Amazon's plea against the January 5 order of the Delhi High Court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance. The Delhi High Court on January 5 had stayed the Amazon-Future arbitration which is going on …

SC remands Amazon-Future dispute to Delhi HC for fresh consideration on merits
2 years, 10 months ago

SC remands Amazon-Future dispute to Delhi HC for fresh consideration on merits

The Hindu  

The Supreme Court on Tuesday remanded to the Delhi High Court the Amazon- Future group dispute, asking it to hear the case afresh on merits, uninfluenced by “any observations” made in orders passed in 2021. A three-judge Bench led by Chief Justice of India N.V. Ramana set aside three orders of the Delhi High Court passed last year, on February …

Delhi High Court stays Amazon-Future arbitration over Reliance deal
2 years, 11 months ago

Delhi High Court stays Amazon-Future arbitration over Reliance deal

The Hindu  

The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's ₹24,500-crore deal with Reliance. The high court also stayed a single judge's January 4 order that had dismissed the Future Group's two pleas seeking a direction to the arbitration tribunal, adjudicating Amazon's objections against the former's deal with …

India’s Future Group’s shares surge on suspension of Amazon deal
3 years ago

India’s Future Group’s shares surge on suspension of Amazon deal

Al Jazeera  

Shares of India’s Future Group companies have surged about 20 percent after the country’s antitrust agency suspended Amazon.com Inc’s 2019 deal with the group, potentially making it easier for Reliance Retail to buy Future’s retail business. The shares soared on Monday after the regulator’s ruling on Friday that the US e-commerce giant suppressed information while seeking regulatory approval two years …

Amazon seeks to pause antitrust review of 2019 deal with India's Future Group: Report
3 years ago

Amazon seeks to pause antitrust review of 2019 deal with India's Future Group: Report

India Today  

Amazon.com Inc has asked India's Supreme Court to pause an expedited review of allegations that the U.S. firm concealed information while seeking antitrust clearance for a 2019 deal with India's Future Group, legal papers seen by Reuters showed. The Competition Commission of India in June accused Amazon of concealing facts and making false submissions when it sought approval for the …

Amazon spends Rs 8,546 cr in legal expenses during 2018-20 to maintain presence in India: Report
3 years, 3 months ago

Amazon spends Rs 8,546 cr in legal expenses during 2018-20 to maintain presence in India: Report

Firstpost  

Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India. US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in …

Future-RIL deal: Amazon flags Supreme Court’s ruling to SEBI
3 years, 3 months ago

Future-RIL deal: Amazon flags Supreme Court’s ruling to SEBI

The Hindu  

Amazon has written to SEBI requesting the regulator to direct stock exchanges to withdraw the ‘Observation Letters’ that were issued related to the proposed ₹24,713-crore Future-Reliance deal. The U.S. e-commerce giant has also urged SEBI to take necessary action to comply with the recent Supreme Court judgment related to the deal. “In light of the directions contained in the Enforcement …

Supreme Court backs Amazon plea against Future-Reliance merger plan
3 years, 4 months ago

Supreme Court backs Amazon plea against Future-Reliance merger plan

The Hindu  

The Supreme Court on Friday ruled in favour of e-commerce giant Amazon against the proposed ₹24,713-crore merger deal between Future Retail Limited and Reliance Retail. Justice Nariman recorded that the Mukesh Dhirubhai Ambani Group, which owns Reliance Retail, was among the “restricted persons” or “prohibited entities” with whom FRL, Future Coupons Private Limited and the Biyanis could not “deal”. The …

Supreme Court Rules In Favour Of Amazon In Case Against Future Retail.
3 years, 4 months ago

Supreme Court Rules In Favour Of Amazon In Case Against Future Retail.

Live Law  

The Supreme Court on Friday ruled in favour of e-commerce giant Amazon in its dispute with Future Retail Limited over the latter's merger deal with Reliance group. "We declare that full party autonomy is given by the Arbitration Act to have a dispute decided in accordance with institutional rules which can include Emergency Arbitrators delivering interim orders, described as "awards". …

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance
3 years, 4 months ago

Jeff Bezos’s Amazon just won in a major battle with Mukesh Ambani’s Reliance

CNN  

New 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 …

CCI enquiry against Amazon, Flipkart cannot be crushed at initial stage: Karnataka HC
3 years, 5 months ago

CCI enquiry against Amazon, Flipkart cannot be crushed at initial stage: Karnataka HC

The Hindu  

E-commerce majors Amazon and Flipkart have lost their legal battle in the High Court of Karnataka as even a division bench has upheld the Competition Commission of India’s decision to conduct an investigation through its Director General into whether they had entered into anti-competitive agreements in violation of the provisions of the Competition Act 2002. Observing that the enquiry initiated …

Walmart’s Flipkart says Indian probe shouldn’t treat it the same as Amazon
3 years, 5 months ago

Walmart’s Flipkart says Indian probe shouldn’t treat it the same as Amazon

Live Mint  

NEW DELHI: Walmart's Flipkart should not be treated the same as rival Amazon in an Indian antitrust probe as the evidence against the two firms was "qualitatively different", Flipkart argued in a court filing seen by Reuters. Both Amazon and Flipkart have challenged the Competition Commission of India in court as they seek revocation of an Indian court's June decision …

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies
3 years, 6 months ago

India to expedite Amazon, Flipkart antitrust probe as tech focus intensifies

The Hindu  

India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The Competition Commission of India initiated a probe in January last year on the basis of a complaint alleging Amazon and Flipkart promoted select sellers …

E-Tail struggle: The Amazon-Future Retail court battle intensifies
3 years, 9 months ago

E-Tail struggle: The Amazon-Future Retail court battle intensifies

India Today  

The legal battle between e-tail major Amazon and the Kishore Biyani-led Future Retail over the latter’s sale of assets to Reliance Retail has intensified. Just days after a single bench of the Delhi High Court said on March 18 that Future Retail, Future Coupons, Kishore Biyani and others had violated an emergency award by the Singapore International Arbitration Centre in …

Top India court halt’s tycoon Mukesh Ambani’s retail deal: Report
3 years, 10 months ago

Top India court halt’s tycoon Mukesh Ambani’s retail deal: Report

Al Jazeera  

The verdict is a win for Amazon which says Future Group’s sale to Ambani’s Reliance Industries violates its contract. India’s Supreme Court has barred a final ruling by a tribunal reviewing Future Group’s $3.4bn sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, the Reuters news agency reported citing three unidentified sources. US retail …

The battle between Reliance and Amazon for the Future of Indian retail | The Hindu podcast
3 years, 10 months ago

The battle between Reliance and Amazon for the Future of Indian retail | The Hindu podcast

The Hindu  

In this episode we discuss the high profile legal tussle between the corporate giants Amazon and Reliance industries over the acquisition of the Future Group. Most recently, Amazon has filed a special leave petition in the Supreme court, appealing against a recent Delhi High Court order that allowed Future Group to go ahead with a proposed deal to sell its …

Amazon-Ambani dispute has foreign investors eyeing India warily
3 years, 10 months ago

Amazon-Ambani dispute has foreign investors eyeing India warily

Al Jazeera  

Investors are keenly watching the court case that could determine who dominates India’s huge retail sector for legal precedents about the validity of foreign rulings. The tussle between two of the world’s richest men — Jeff Bezos and Mukesh Ambani — to dominate India’s estimated $1 trillion retail market is testing foreign investor patience with flip-flopping court rulings. Future Retail …

Amazon-Future tussle: Here's all you need to know
3 years, 10 months ago

Amazon-Future tussle: Here's all you need to know

Hindustan Times  

India's retail giant Kishore Biyani's Future Retail is stuck in a long-standing tussle with the US tech giant Amazon. Amazon has been blocking a deal worth $3.4 billion between Future Group and Reliance Retail alleging that the transaction between the two Indian majors violates the terms of its earlier contract with Future. > Amid the unprecedented challenges of Covid-19, Future …

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani
3 years, 10 months ago

Reliance Future Group deal: Amazon gets Indian court to block $3.3 billion retail deal involving Mukesh Ambani

CNN  

CNN Business — Amazon has been handed a major legal victory in its fight to block a multibillion-dollar deal between two of India’s biggest retailers. In August 2019, Amazon invested in a Future Group entity that gave it a roughly 4.8% stake in Future Retail as of September 30 last year, according to securities filings. Amazon argued that the 2019 …

Hearing of Flipkart, Amazon case resumes
3 years, 11 months ago

Hearing of Flipkart, Amazon case resumes

Live Mint  

Karnataka high court on Monday said it will begin daily hearing of the case between the Competition Commission of India and India’s two biggest online retailers Flipkart and Amazon on Wednesday, two people aware of the development said. CCI had approached the high court in December to vacate a stay issued by the court in February 2020 on a probe …

HC issues notice on Amazon’s petition
3 years, 11 months ago

HC issues notice on Amazon’s petition

Live Mint  

The Delhi high court on Wednesday issued notices to Future Retail Ltd and others on Amazon.com Inc.’s appeal against a single-judge order that left it to regulators to decide on Future group’s asset sale to Reliance Industries Ltd but allowed the US retailer to oppose the deal. The court’s 21 December ruling prima facie upheld Future Retail’s board resolution approving …

Delhi high court notice to parties in Amazon case against Future-Reliance deal
3 years, 11 months ago

Delhi high court notice to parties in Amazon case against Future-Reliance deal

Live Mint  

NEW DELHI The Delhi High court on Wednesday issued notice to Future Retail and other respondents in Amazon’s appeal against the 21 December single-judge bench order that had upheld the Kishore Biyani company’s proposed merger with Reliance Retail Ventures. The single-judge benchhad prima facie held that the interim award by Singapore International Arbitration Centre in favour of Amazon was legal, …

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute
3 years, 11 months ago

Kishore Biyani sees quick OK of Future’s $3.4 billion deal despite Amazon dispute

Live Mint  

India's Future Group expects swift regulatory approval of its $3.4 billion deal to sell its retail assets, its chief executive said, even as its warring business partner Amazon.com Inc intensifies efforts to block the deal. A New Delhi court in December dismissed Future's request to restrain Amazon's repeated attempts to get authorities to stall the deal. AMAZON PROTESTS The outcome …

CAIT Says Amazon's Arbitrary Policies to Dominate India's Retail Trade Should End
4 years ago

CAIT Says Amazon's Arbitrary Policies to Dominate India's Retail Trade Should End

News 18  

Trader’s body CAIT on Monday said Amazon’s “manipulative, coercive, arbitrary and dictatorial policies” to dominate India’s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group’s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon. The court rejected Future Retail Ltd’s plea for an interim …

Amazon Vs Future Retails- Delhi High Court Rejects Future Retails's Plea For Interim Injunction Against Amazon-Read Order
4 years ago

Amazon Vs Future Retails- Delhi High Court Rejects Future Retails's Plea For Interim Injunction Against Amazon-Read Order

Live Law  

Future Retail Ltd suffered a set back on Monday as the Delhi High Court refused to allow its plea for interim injunction to restrain Amazon Inc from writing to Indian statutory authorities objecting to FRL's proposed asset sale to Reliance group.A single bench of Justice Mukta Gupta refused to grant any interim reliefs on FRL's plea it to direct Amazon …

Battle of billionaires: India regulators to decide Future’s fate
4 years ago

Battle of billionaires: India regulators to decide Future’s fate

Al Jazeera  

If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s groceries market, which is forecast to be worth $740bn per year by 2024. If the deal with Reliance goes ahead, it will delay Amazon’s goal of capturing India’s massive groceries market that Forrester Research estimates will be worth $740bn a year by 2024. “There have …

Jeff Bezos vs Mukesh Ambani: A fight for retail dominance in India
4 years, 1 month ago

Jeff Bezos vs Mukesh Ambani: A fight for retail dominance in India

India Today  

The recent legal dispute over the Future deal seems to be setting the stage for a major fight between two of the richest men in the world for retail dominance in India. Earlier this year, Mukesh Ambani-owned Reliance Industries Limited announced that it had signed a deal with Kishore Biyani’s Future Group to acquire assets in its retail business for …

Traders Support Future Retail in Battle Against Amazon
4 years, 1 month ago

Traders Support Future Retail in Battle Against Amazon

News 18  

Traders body, CAIT has compared Amazon with East India Company in the colonial era which acquired Indian states one by one and monopolized Indian business. “The recent statement made by Indian origin Future Retail group to go for liquidation as a consequence of a acquisition battle of Amazon reminds us the colonial era when East India Company initiated the process …

India’s e-commerce battle: Flipkart and Amazon compete for record festive sales
4 years, 2 months ago

India’s e-commerce battle: Flipkart and Amazon compete for record festive sales

CNN  

Hong Kong CNN Business — India’s festival shopping season is underway, pitting the country’s biggest online retailers against each other in a battle to grab a larger chunk of the growing, lucrative e-commerce market. “This is the time when consumers are actually in spending mode,” he said, adding that the roughly one-month salesperiod is expected to account for 18% of …

Amazon drags Future to Singapore arbitration
4 years, 2 months ago

Amazon drags Future to Singapore arbitration

Live Mint  

Bengaluru/Mumbai: Amazon Inc. has approached the Singapore International Arbitration Centre, claiming that Future Group has violated the contract under which the US-based e-commerce major took a stake in its subsidiary, and is asking for the deal with Reliance Industries Ltd to buy the Indian firm’s retail assets to be halted. Amazon agreed to purchase 49% of one of Future’s unlisted …

Reliance approaches its digital investors over buying stakes in retail arm
4 years, 3 months ago

Reliance approaches its digital investors over buying stakes in retail arm

India Today  

India's Reliance Industries Ltd has approached investors in its digital business about potentially buying stakes in its retail arm, two sources with direct knowledge of the matter said on Thursday. The oil-to-telecoms conglomerate is looking to attract more investors to Reliance Retail as the business expands rapidly online to take on the likes of Walmart Inc's Flipkart and Amazon.com Inc's …

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