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[Amazon v Future] Supreme Court issues notice in challenge to Delhi HC order staying arbitration before SIAC Tribunal

An arbitration tribunal in Singapore had been hearing Amazon’s case against Future Group related to the 2019 deal between the two companies. While hearing this case, the tribunal had passed an interim order stalling the sale of Future Retail’s assets to Reliance Industries.

Future Retail had petitioned the Tribunal arguing that continuing proceedings there would be illegal in view of the CCI ruling against Amazon.

The CCI had suspended the clearance for the deal, stating that Amazon had failed to notify it about certain crucial details of its acquisition of a 49 per cent stake in Future, as required under Section 6(2) of the Competition Act, 2002 (Act). It had, therefore, also imposed of a penalty of ₹202 crore on Amazon.

After the tribunal refused to consider the request before starting a final hearing, the Future Group moved the Delhi High Court. This led to the single-judge order that was eventually stayed by the Division Bench. Amazon subsequently moved the Supreme Court in appeal against this order.

Source: Barandbench

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