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Delhi High Court upholds Amazon’s arbitration order in Future Retail case

The Delhi High Court on Thursday upheld the Emergency Arbitration order against Future Group putting on hold the retail giant's acquisition by Reliance Retail, Bar & Bench reported. The court upheld that the purchase violated an agreement that was signed between Amazon and Future Coupons, an investor company in Future Retail Limited. The court observed that the Future Group had agreed to give Amazon a veto on transactions like the Reliance Retail acquisition, but failed to hold good to that commitment. The judgement is a win for Amazon, but the matter is likely to be decided only in the Supreme Court, where a hearing for the case is already due, but that appeal is from Amazon. This has been one of Amazon's biggest legal challenges in India. The company invested over Rs 1,000 crores in Future Coupons under the condition…

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