India's Supreme Court begins hearing Amazon-Future case
2021-07-20 12:01:20

Asian Tech Press -- The Supreme Court of India began hearing the case of Amazon and Future Retail on Tuesday, according to The Economic Times.

The top court said July 8 that it would hear on July 20 the Amazon plea against the Delhi High Court verdict which stayed the directive by its single-judge and paved the way for the multi-billion dollar deal to sell Future Retail's business.

In August last year, Future Retail Ltd. (FRL) decided to sell its business to Reliance Retail for $3.38 billion.

American e-commerce giant Amazon Inc. opposed the deal and appealed to the courts.

Amazon said FRL violated certain contractual terms set out in a separate deal it struck last year. That clause required that FRL not sell its retail assets to anyone on the "restricted persons" list, including any Reliance affiliates.

In February, India's Supreme Court said it had heard Amazon's ple asking the National Company Law Tribunal (NCLT) not to approve the deal.

The Supreme Court has also issued a notice to the Future Group and has announced that the case will be reopened.

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