India stops arbitration between Amazon and Future

An Indian court has halted Future Group’s ongoing arbitration with Amazon.com Inc.

The arbitration is linked to an Indian antitrust agency’s suspension of a 2019 deal between the two sides.

Amazon has used the terms of its 2019 investment in a Future unit to block the retailer’s attempt to sell retail assets to rival Reliance Industries.

Future has argued that there was no legal basis for the arbitration between the two sides to continue after the antitrust agency suspended the 2019 deal last month.

A two-judge bench of the Delhi High Court agreed with Future’s arguments, putting the arbitration proceedings on hold.