NEW DELHI: The Supreme Court on Wednesday deferred the hearing on Amazon's plea saying it will hear on a dispute between the e-commerce major and Future Group post a decision by the National Company Law Appellate Tribunal (NCLAT) where Amazon has challenged a December order by the Competition Commission of India (CCI).
Amazon had filed a plea in the apex court against the Delhi High Court order, which stayed the ongoing arbitration proceedings before an arbitral tribunal over Future Retail’s deal with Reliance. NCLAT is scheduled to hear Amazon’s challenge to the CCI order on February 25.
While Amazon has challenged the CCI order, Future group has cited the CCI order for seeking termination of the arbitration proceedings. Supreme Court will now hear the matter on March 9, 2022.
In December last year, the Competition Commission of India suspended its over-two-year-old approval for Amazon’s deal to acquire a 49 per cent stake in FCPL and FRL promoter, and also slapped a penalty of Rs 202 crore on the e-commerce major.
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Future and Amazon have been entangled in a legal tussle over the sale of Future's retail assets to Mukesh Ambani-led Reliance Industries Ltd. The deal is being opposed by Amazon which argues that FRL violated their contract.