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India’s Supreme Court Backs Amazon in Future Retail Case: BS

Amazon and Future Group have been locked in legal battles after Future's bid to sell assets to Reliance. Deals are now being probed by Enforcement Directorate officials. Photo: Reuters.

(AF) India’s Supreme Court ruled on Friday that Future Retail’s $3.4 billion deal to sell its retail assets to Mukesh Ambani’s Reliance Retail was bound by an arbitrator’s order that put the transaction on hold, the Business Standard reported.

Amazon and Future had been locked in legal battles over the deal, with the US giant accusing the Indian group of violating pre-existing contracts when it sold its assets to rival Reliance Industries, the newspaper said. Full story: Business Standard.


Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.


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