Future Group has moved the high court to stop the arbitration by Singapore’s tribunal proceedings that start on January 5 regarding the Amazon dispute. Future Group argued that arbitration can’t proceed as the basis of Amazon’s claims were knocked out by the Competition Commission of India (CCI). Amazon had initiated the arbitration stating that the Future Group-Reliance Retail Ventures deal violated the terms of the 2019. In 2019, Amazon invested in Future Group by acquiring a 49% stake in Future Coupons, a promoter entity of Future Retail. The CCI suspended its 2019 transaction approval between Amazon and Future Group as the former failed to identify and notify strategic interest over Future Retail. It also fined Amazon INR 2bn ($27mn) for hiding facts and giving false information to get regulatory approval.
Future Retail’s USD 5.6% 2025 was down 0.44 points to 60.83 cents on the dollar.
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