Amazon has requested Delhi high court to block partner Future Group’s $3.4 billion deal to sell its retail assets to Reliance Industries, in its latest attempt to derail the transaction. The company asked the New Delhi High Court to enforce the decision of a Singapore arbitrator which both sides had agreed to use in case of disputes, the filing showed.
In October, an arbitrator issued an interim order ordering the deal to be put on hold as the Future group breached a few pre-existing causes by entering into a deal with Reliance. Future has “deliberately” disobeyed the arbitrator’s order, Amazon argued in its court filing which is likely to be heard by the court in New Delhi this week.
The U.S. group’s latest court move comes after Indian stock exchanges last week gave the go-ahead to the Future deal, after communicating with India’s markets regulator, the Securities and Exchange Board of India (SEBI).
It is disheartening to see an Indian conglomerate company (Future Group) to breach the policies and rules of the American multinational technology company (Amazon) for an Indian multinational conglomerate (Reliance).
