binance left Coinmarketcap net_left adver left

Indian court halts Amazon, Future arbitration in blow to U.S. giant

Wednesday, January 5, 2022

By Aditya Kalra and Abhirup Roy

NEW DELHI (Reuters) - A Delhi court has halted arbitration proceedings between Indian conglomerate Future Group and its estranged U.S. partner Amazon.com (NASDAQ:AMZN) in light of the national antitrust agency's suspension of a 2019 deal between the two sides.

The decision on Wednesday is a setback for U.S. e-commerce giant Amazon, which had successfully used the terms of its 2019 investment in a Future unit to block the Indian company's attempt to sell retail assets to a rival.

But after the Competition Commission of India (CCI) suspended the 2019 deal last month, citing suppression of information by Amazon while seeking clearances, Future argued there was no legal basis for the arbitration between the two sides to continue in Singapore.

A two-judge bench led by Chief Justice D. N. Patel of the Delhi High Court agreed with Future's arguments, putting the arbitration proceedings on hold. If the proceedings are not halted, Justice Patel said this would cause an "irreparable loss" to Future.

"We hereby stay further proceedings of arbitral tribunal till next date of hearing," said Patel, adding the court will reconvene on Feb. 1 to hear the case again.

Future and Amazon did not respond to requests for comment.

A source familiar with the case said that Amazon was likely to legally challenge the Delhi High Court's decision.

The long-running dispute is being heard by a Singapore arbitration panel, but the so-called "seat of the arbitration" is New Delhi, meaning proceedings are governed by Indian law.

Amazon has long argued that Future violated the terms of its 2019 deal in deciding to sell retail assets to market leader Reliance Industries, and the U.S. company's position had so far been backed by the Singapore arbitrator and Indian courts. Future denies any wrongdoing.

The dispute over Future Retail, which has more than 1,500 supermarket and other outlets, is a flashpoint between Jeff Bezos' Amazon and Reliance, run by tycoon Mukesh Ambani, as they try to gain the upper hand in Indian retail.

Future had approached the Delhi High Court after the Singapore arbitration panel did not agree to its immediate demands to terminate the proceedings after antitrust suspension of the 2019 deal.

Amazon has said it will legally challenge the CCI's suspension of the 2019 deal.

Future has said it is staring at liquidation if the Reliance asset sale deal fails after its retail businesses were hit hard during the COVID-19 pandemic.

Leave your comment
ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
17-01-2022 21:13:47 (UTC+7)

EUR/USD

1.1418

+0.0011 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

EUR/USD

1.1418

+0.0011 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

GBP/USD

1.3657

+0.0013 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

USD/JPY

114.49

-0.12 (-0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

AUD/USD

0.7221

+0.0011 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

USD/CAD

1.2492

-0.0027 (-0.22%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (7)

Sell (1)

EUR/JPY

130.72

0.00 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

1.0430

+0.0006 (+0.05%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (3)

Gold Futures

1,821.15

+4.65 (+0.26%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Silver Futures

23.087

+0.047 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Copper Futures

4.4380

+0.0050 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (3)

Crude Oil WTI Futures

84.08

+0.30 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

Brent Oil Futures

86.96

+0.40 (+0.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

4.267

+0.013 (+0.31%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (9)

Sell (1)

US Coffee C Futures

239.65

+2.65 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Euro Stoxx 50

4,302.14

+29.95 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

S&P 500

4,662.85

+3.82 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (2)

DAX

15,933.72

+50.48 (+0.32%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

FTSE 100

7,611.23

+68.28 (+0.91%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

Hang Seng

24,280.37

+62.34 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

2,161.55

+0.07 (+0.00%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

IBEX 35

8,838.70

+32.10 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

BASF SE NA O.N.

68.140

+0.030 (+0.04%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Bayer AG NA

52.82

+0.23 (+0.44%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Allianz SE VNA O.N.

227.05

+0.05 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Adidas AG

252.65

+0.30 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (0)

Deutsche Lufthansa AG

7.241

0.000 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (11)

Siemens AG Class N

146.00

+0.14 (+0.10%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Deutsche Bank AG

12.018

+0.064 (+0.54%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

 EUR/USD1.1418↑ Sell
 GBP/USD1.3657↑ Sell
 USD/JPY114.49↑ Sell
 AUD/USD0.7221↑ Sell
 USD/CAD1.2492Neutral
 EUR/JPY130.72↑ Sell
 EUR/CHF1.0430Sell
 Gold1,821.15Sell
 Silver23.087↑ Sell
 Copper4.4380↑ Buy
 Crude Oil WTI84.08↑ Buy
 Brent Oil86.96↑ Buy
 Natural Gas4.267Buy
 US Coffee C239.65↑ Buy
 Euro Stoxx 504,302.14↑ Sell
 S&P 5004,662.85↑ Buy
 DAX15,933.72↑ Sell
 FTSE 1007,611.23↑ Buy
 Hang Seng24,280.37↑ Sell
 Small Cap 20002,161.55↑ Buy
 IBEX 358,838.70↑ Sell
 BASF68.140Neutral
 Bayer52.82↑ Buy
 Allianz227.05↑ Buy
 Adidas252.65↑ Buy
 Lufthansa7.241↑ Sell
 Siemens AG146.00Neutral
 Deutsche Bank AG12.018↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(0/ 0) # 1,144
SJC HCM6,110/ 6,170
(0/ 0) # 1,153
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,155
SJC Danang6,110/ 6,172
(0/ 0) # 1,155
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,155
SJC Cantho6,110/ 6,172
(0/ 0) # 1,155
Cập nhật 17-01-2022 21:13:51
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,821.87+5.390.30%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$84.58-0.84-1.00%
Brent$86.88-1.14-1.31%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.550,0022.860,00
EUR25.268,1426.684,53
GBP30.226,5831.517,24
JPY192,39203,66
KRW16,5320,15
Cập nhật lúc 09:08:35 18/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right