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The arbitration relates to a 2019 deal of Amazon acquiring a 49% stake in Future Coupons Private Limited and is one of the several legal disputes the companies are embroiled in.
The National Company Law Tribunal (NCLT), Mumbai Bench on ordered for the initiation of the Corporate Insolvency Resolution Process (CIRP) against Future Retail.
History of the legal battle between Amazon and Future that started in 2020.
The Court noted that there were broadly four petitions four consideration and asked the counsel appearing for parties to submit a brief noted of their contentions.
Amazon has moved the Supreme Court challenging the Delhi High Court order which stayed the arbitration proceedings against Future Group before a Singapore tribunal.