New Delhi: Delhi High Court on Wednesday Stopped the Continuous Arbitration of the Future Group with Eggranged Amazon Partners considering the Indian Suspension Commission (CCI) from the 2019 agreement between the two parties.
US companies successfully used the provisions of 2019 investment in the future unit to block the efforts of Indian retailers to sell retail assets to rival the dependency industry, accuse a violation of certain contracts.
But after the Antitrust body suspended the 2019 agreement last month citing information suppression by Amazon while looking for permits, the future argued that there was no legal basis for the arbitration between the two sides to continue.
The two judges from the Delhi High Court on Wednesday agreed with the future argument, delaying the arbitration process.