Two letters have been sent to India's competition authority by three directors of Future Retail Ltd, alleging that Amazon has misled the regulator about nature of an investment in 2019.
The top court also directed the National Company Law Tribunal, Competition Commission of India & SEBI not to pass any final order related to the merger deal for the next 4 weeks.
Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at Singapore International Arbitration Centre last year.
Supreme Court verdict is a setback for Ambani, who owns India's largest retail chain but was relying on Future’s brick-and-mortar stores to add to its footprint.
A division bench of Chief Justice D N Patel and Justice Jasmeet Singh also issued notice to Amazon on Future Group's appeal challenging the 18 March judgment on the deal.
The apex court said the proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on amalgamation of Future Retail with Reliance.
Future Retail contended before the court that while it claims so, Amazon is not concerned about the potential closure of shops and loss of livelihood of Future's employees if the deal falls through.
Amazon has sought setting aside of the observations as they have a bearing on its case in arbitration proceedings that were initiated before the Singapore International Arbitration Centre (SIAC).
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Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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