 "PMI")
Future Retail asks court to declare arbitration with Amazon illegal
India's Future Retail has asked a New Delhi court to declare arbitration proceedings in Singapore with Amazon.com as illegal, arguing that India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future.
Amazon successfully used the terms of its toehold $200 million investment in debt-laden Future to block the Indian retailer's attempt to sell retail assets to a rival, alleging breach of certain contracts.
But the Indian antitrust body, the Competition Commission of India, in December suspended the 2019 deal saying Amazon suppressed information while seeking approvals.
