India’s Future Retail Wins Halt on Amazon Arbitration Process on Appeal
- Case seems in favor of Future after antitrust ruling: Judge
- Termination of arbitration may allow Future, Reliance deal
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An Indian court has ordered a halt on Amazon.com Inc.’s arbitration case against Future Retail Ltd. in Singapore, a day after it had refused to interfere with the process.
Following an appeal by Future Retail, a two-judge panel of the Delhi High Court overturned Tuesday’s verdict and stayed the arbitration process started by Amazon to stop the cash-strapped Indian retailer’s asset sale to Reliance Industries Ltd. until the next hearing on Feb. 1. After a December antitrust ruling against Amazon, the case appears to be in favor of Future Retail, the bench, headed by Justice D.N. Patel, said.