A court in India rejected future group’s request after it learned that the company tried to use the court to prevent its partner Amazon from interfering and blocking its plan to sell its assets to Mukesh Ambani’s Reliance Industries for $3.4bn. The Delhi High Court ruled on Monday that Amazon should not be barred from writing to regulators and authorities on the ground of “possible irreparable damage.”. The court said regulators would decide whether to approve the deal in accordance with the law. < / P > < p > the ruling is the latest development in the high-risk battle between Amazon and future group, which are estranged from each other. Last year, Amazon acquired a 49% stake in an unlisted company of future in a deal worth more than $100 million. As part of the deal, future is unlikely to sell assets to competitors, Amazon said in a court filing. At a recent virtual conference, Kishore biyani, chief executive officer and founder of future, said that the situation had changed after the new coronavirus pandemic led to its cash shortage. In August, future group said it had reached an agreement with Ambani’s Reliance Industries to sell its retail, wholesale, logistics and warehousing businesses for $3.4 billion. The latter runs India’s largest retail chain. < / P > < p > a few months later, Amazon protested the deal by contacting an arbitrator in Singapore and asked the court to block the deal between the two Indian retail giants. At the end of October, Amazon obtained emergency relief from an arbitration court in Singapore, which temporarily prevented future group from continuing the deal. < / P > < p > until Monday, it was unclear whether the ruling would stand up in front of an Indian court. Just hours after the Singapore arbitration court announced its ruling, future group and reliance said in a statement that they would proceed with the deal without delay. < / P > < p > Amazon, on the other hand, approached the Competition Commission of India to block the deal. However, India’s Competition Commission approved the deal between the two companies. At an earlier hearing, lawyers for future group compared Amazon’s blocking of its exchanges to the British trading company East India Company. It is reported that the East India Company entered India and started nearly 200 years of colonial rule. By 2025, India’s retail market is expected to soar from US $700 billion last year to US $1.3 trillion, according to BCG, a consulting firm, and Retailers & Association India, a local industry organization. Among them, online shopping accounts for about 3% of the total retail sales. Global Tech

By ibmwl