Amazon's counsel began his arguments by going over the history of the legal dispute and submitted that Future Retail had been a direct beneficiary of Amazon's investment. The Supreme Court on Tuesday began hearing arguments on the legal battle between Future Retail and Amazon, Bar and Bench reported. The court is hearing a plea by Amazon against a Delhi High Court order which stayed an earlier order that restrained Future Retail from going ahead with its sale to Reliance. Why this matters? Both Reliance and Amazon are trying to expand their online and offline retail offerings. Reliance is trying to acquire Future Retail to do this, while Amazon is trying to prevent this deal from happening. The Future vs Amazon legal battle has been going on since October 2020 and the Supreme Court's verdict could be the final say in who gets their way. Future vs Amazon: Brief timeline of events November 2019 - Amazon acquired a 49 percent stake in Future Coupons, a promoter company that owns about 7.3 percent stake in Future Retail. August 2020 - Reliance announced that it will acquire most of Future Group's retail, wholesale, and logistics business in a deal worth Rs 24,713 crore. Amazon objected to the Reliance deal in October saying that its agreement with Future Coupons had a non-compete-like pact and right of first refusal against deals with competitors like Reliance Retail. October 25, 2020 - Amazon obtained an emergency arbitrator's order against the Future-Reliance deal from a Singapore arbitration tribunal. November 7, 2020 - Future Retail moved to Delhi…
- Quick Take: ChatGPT has revived the debate about AI taking away jobs January 31, 2023
- MediaNama Daily: Will this truth last forever? January 31, 2023
- India’s Health Stack: Plans for “Single Source Of Truth” January 30, 2023
- Twitter plans to limit permanent account suspensions on its platform January 30, 2023
- What’s the deal with Andhra Pradesh’s new family doctor system? January 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...