Amazon has asked the Supreme Court to pause the CCI review of Future Coupons deal, Future Retail employees have asked the court to allow the Reliance deal to proceed, and the court itself has deferred the hearing in the case to December 8 after registering its discontent that both companies are "filing truckload of volumes." Here's a round-up of all the recent updates on the Amazon vs Future Group case. Recap In November 2019, Amazon received approval to acquire a 49 percent equity in Future Coupons, the promoter entity of Future Retail, which operates 900 stores in India. Since Future Coupons owned a 7.3 percent stake in Future Retail, the deal gave Amazon a 3.58 percent stake in Future Retail. Then, in August 2020, Reliance announced that it will buy most of Future Group’s retail, wholesale, and logistics business in a deal worth Rs 24,713 crore. Amazon objected to this acquisition saying it had the right of first refusal because of its stake in Future Coupons. Both Amazon and Future have been engaged in a legal battle over this issue since October 2020. Read Everything You Need To Know About The Amazon Vs Reliance And Future Retail Case Supreme Court: On August 6, the Supreme Court ruled in favour of Amazon and halted the Reliance–Future Retail deal. The court held that the emergency arbitrator’s award obtained by Amazon in Singapore can be legally enforced in India. Later in the month, Future Group filed a fresh legal challenge in Supreme Court against Amazon. On September 9, the…
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