Amazon approaches NCLAT: Challenges Competition Commission of India (CCI) & Delhi HC order

10 January 2022, Mumbai:

Steps Up Legal Battle With Future After Stay On Arbitration

Use-tailer Amazon has stepped up its legal battle with Kishore Biyani's Future Group, challenging a Competition Commission of India (CCI) order at the National Company Law Appellate Tribunal (NCLAT) and filing a petition in the Supreme Court to quash a Delhi high court order.

Favourable outcomes for Amazon can derail the Big Bazaar parent's preparations for its Rs 25,000-crore asset sale to Reliance Retail.

TOI had reported that Future Group is likely to approach the National Company Law Tribunal (NCLT) to seek approval for a shareholders' meet after a division bench of the Delhi HC on January 5 stayed ongoing Amazon Future arbitration proceedings before a Singapore tribunal.

SOURCE: TOI Dt 10-01-2022

(The news article has not been edited by DFU Publications staff)

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