On Monday, the Delhi High Court dismissed the Indian Future Group’s claim that the group tried to restrict American partner Amazon from interfering in its sale of US$3.4 billion (approximately 2500 crore) of assets to Reliance.

Future sold its retail assets to Reliance in August, and Amazon said the transaction violated Future’s agreement with the U.S. e-commerce leader in 2019.

In October, Amazon won an injunction to suspend the sale of Singaporean arbitrators that the parties agreed to use in the event of a dispute.

Future later stated that the order was non-binding, prompting Amazon to file a complaint with the Indian market regulator.

In recent decades, it is generally believed that the future is changing the retail industry in India. However, the COVID-19 pandemic has dealt a heavy blow to companies, so that Kishore Biyani sought a buyer.

The Competition Commission of India (CCI) last month approved Future to sell its retail, wholesale, logistics and warehousing operations to the trust of billionaire Mukesh Ambani.

On Monday, the court pointed out that the lawsuit filed by Future Retail, a subsidiary of Future Group, is maintainable, and its resolution to approve the transaction with Reliance is also valid.

However, it pointed out that, given the potential irreparable losses, Amazon cannot be prohibited from writing to regulators, Judge Mukta Gupta said in the judgment.

According to Forrester Research, the Indian retail industry is expected to grow 46% in the next four years, reaching US$1.3 trillion (approximately Rs 9,574.50 billion) per year. The data shows that the key struggle is groceries, which may be worth approximately US$740 billion (approximately Rs 5,450,100 crore) each year by 2024.

See also  Arvind Kejriwal sworn in Delhi CM today at Ramlila Maidan

Reliance and Future dominates the Indian market. Its next competitor, Avenue Supermarts’ DMart, is far behind in terms of stores and coverage.

© Thomson Reuters 2020

Is the MacBook Air M1 the portable beast of the laptop you always wanted? We discussed on the weekly technical podcast Orbital, you can subscribe via Apple Podcast, Google Podcast or RSS, download the episode, or click the play button below.