They add that defeats the sole crux of the contractual arrangement and may dissuade foreign companies from entering Indian market
Shares of Future Group of companies bounced back and settled with as much as 5.5 per cent gains on Thursday, a day after the Delhi High Court stayed the Amazon-Future arbitration.
Shares in Future Group companies jumped on Thursday, a day after an Indian court halted arbitration proceedings between the conglomerate and estranged partner Amazon.com Inc.
The tribunal is adjudicating Amazon's objections to Future Retail's Rs 24,500-crore deal with Reliance
Court stays Tuesday's single-judge order dismissing Future Group's petition
Thermax surges 7% on Rs 546-cr order; Talbros Automotive zooms 27% in 2 days as Vijay Kedia increases stake; Future Retail falls 6% as Delhi High Court rejects plea to dismiss Amazon arbitration
Division bench of Delhi HC stays proceedings of arbitral tribunal till next date of hearing; also stays order of the single judge of Delhi HC.
Business Standard brings you the top headlines on Wednesday
Shares in Future Group companies fell on Wednesday, a day after an Indian court dismissed Future Retail's appeal to declare arbitration proceedings with Amazon.com Inc as illegal.
Dismisses its plea seeking a direction to SIAC to decide on its application
Business Standard brings you the top headlines on Tuesday
Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at the Singapore International Arbitration Centre in Oct 2020
Delhi HC will pass order today
Amazon moves Delhi HC, objects to ED asking for disclosure of legally privileged documents. Multiple Amazon executives had been summoned and the probe has caused 'unnecessary harassment', it says
The NSE index has now declined nearly 11 per cent from its all-time in the last two months; Midcap and Smallcap indices were down over 3 per cent each
Indian Sellers Collective (ISC) on Monday welcomed the Competition Commission of India's (CCI) order to suspend its approval for Amazon's deal with the Future Group signed in 2019, while seeking speedy resolution of pending cases against the multinational e-commerce platform and related parties. ISC, which claims to be an umbrella body bringing together trade associations and representative bodies of Indian sellers across the country, said the CCI's reversal "validates the double standards being practiced by foreign retailers". It exposed "how Amazon has been operating with double standards posing as a transaction platform while acting as a retailer in reality with the intent to control the country's retail market, it urges regulators to expedite all other pending cases against the company and its related parties", ISC said in a statement. ISC Member & National Coordinator Abhay Raj Mishra said CCI's reversal of order "reposes the faith in regulators against malpractices". "The ..
Future Retail (Rs 57.50) and Future Supply Chain Solutions (Rs 80.75), Future Lifestyle Fashions (Rs 59.20), Future Enterprises (Rs 11.61) and Future Consumer (Rs 8.19) rallied 20% on the BSE
Says Amazon made false and incorrect statements while seeking approvals
CCI says Amazon provided 'false and incorrect information' and said it suppressed 'material facts' of 2019 Future deal; asks Amazon to again file detailed Form II within a period of 60 days
Amazon says sentiment will be hit if its 2019 deal with Future gets revoked by the anti-trust body and would send a negative signal to foreign investors