Amazon's Unexpected Move In Supreme Court In Fight Over Future Retail
Amazon.com Inc has asked Supreme Court to pause an expedited review of allegations that the US firm concealed information while seeking antitrust clearance for a 2019 deal with Future Group, legal papers seen by Reuters showed.
The Competition Commission of India (CCI) in June accused Amazon of concealing facts and making false submissions when it sought approval for the $200 million investment into a Future unit in 2019, a deal that is now at the heart of protracted legal disputes between the two sides.
Amazon told Reuters at the time that it was confident of addressing the watchdog's concerns. The Supreme Court approach by Amazon comes as the CCI on Wednesday held a closed-door hearing where the USÂ firm's lawyers declined to argue and explain their position on the matter, saying they had asked the top court to pause the process.
The watchdog noted in an internal document - seen by Reuters - that it had decided to give no extensions to the company to explain its position and will now issue an order in due course.
Amazon and the CCI did not immediately respond to a request for comment. The CCI decision is critical to Amazon's legal challenges.
If the CCI rules against Amazon and revokes the 2019 approval, it could have wide-ranging ramifications on the USÂ firm's ongoing legal battle with Future, people familiar with the case say.
That's because Amazon has so far successfully used the 2019 Future unit deal to argue breach of certain contracts when the Indian company announced plans to sell its retail assets to rival Reliance Industries for $3.4 billion last year.
Future, which denies any wrongdoing, accuses Amazon of illegally interfering in its business decisions and derailing a potential deal without which it says it will face liquidation.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
