Shares in Future Group companies jumped on Thursday, a day after an Indian court halted arbitration proceedings between the conglomerate and estranged partner Amazon.com Inc.
Amazon Seller Services had recorded a net loss of Rs 5,849.2 crore, while its revenue from operations stood at Rs 10,847.6 crore in FY20
The tribunal is adjudicating Amazon's objections to Future Retail's Rs 24,500-crore deal with Reliance
Court stays Tuesday's single-judge order dismissing Future Group's petition
Thermax surges 7% on Rs 546-cr order; Talbros Automotive zooms 27% in 2 days as Vijay Kedia increases stake; Future Retail falls 6% as Delhi High Court rejects plea to dismiss Amazon arbitration
Division bench of Delhi HC stays proceedings of arbitral tribunal till next date of hearing; also stays order of the single judge of Delhi HC.
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The oral assurance was given by Additional Solicitor General SV Raju, appearing for the central agency
The appeal before Delhi HC's division bench for termination of Amazon arbitration will be listed before the Chief Justice of Delhi High Court at 02:15 pm on Wednesday
Dismisses its plea seeking a direction to SIAC to decide on its application
Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at the Singapore International Arbitration Centre in Oct 2020
Delhi HC will pass order today
The case will likely be heard by judges this week.
After a year of disruptions, businesses were better prepared in 2021, not only adjusting to the new normal but also making the most of it
On August 09, 2021, the partners had announced their decision to not continue the JV beyond the end of its current term in May 2022
FTC investigators have contacted companies in the past few months to gather information about competition issues related to Amazon Web Services
In August, Amazon and N R Narayana Murthy's Catamaran had announced that they will not continue their joint venture Prione Business Services beyond May 2022
Last month, Amazon had said it was in receipt of summons by the ED in connection with its deal with the Future Group
Amazon Web Services (AWS), the Cloud arm of Amazon, has suffered a third outage this month, this time due to a power outage that hampered services like Slack, Epic Games store and Asana, others
Amazon moves Delhi HC, objects to ED asking for disclosure of legally privileged documents. Multiple Amazon executives had been summoned and the probe has caused 'unnecessary harassment', it says