Amazon is urging the competition authority to cancel the futures-reliance deal

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Amazon is urging the anti-trust organization to cancel the futures-reliance deal.

Amazon urges Competition Commission of India to revoke approval for Future-Reliance deal

Amazon has asked the Competition Commission of India (CCI) to withdraw its approval for the sale of Future Retail’s $ 3.4 billion retail assets to Reliance, a letter seen by Reuters showing that it had violated an order suspending the deal, saying it was “illegally obtained”.

According to a letter sent by Amazon.com Inc to the CCI last week, the approval of this agreement is “not valid in the eyes of the law” as an arbitrator’s order is still in force.

The war between the two richest men in the world, Amazon founder Jeff Bezos and Reliance Industries Ltd boss Mukesh Ambani, marks the beginning of competition in India’s growing, nearly trillion-dollar retail market.

The winner of the fight for Future Retail Ltd., India’s second largest retailer and local partner of Amazon, will be polarized in the competition to meet the daily needs of more than a billion people.

CCI, Amazon, Future Group and Reliance did not respond to requests for comment.

Future said the arbitrator’s suspension order was invalid but the courts refused to overturn it. If the regulator agrees with the previously undeclared letter, it will be a major setback for oil and telecommunications company Reliance.

Amazon won a ban on the deal from a Singapore arbitrator last year, accusing it of violating futures contracts and preventing it from selling assets to companies including Reliance. But the CCI later allowed the deal.

Future misled the CCI and continued to seek approval for the deal, with Amazon saying in a letter dated Wednesday that the ban was “a shameful attempt to overthrow the rule of law.” Amazon has requested a personal inquiry from the CCI to report its case.

The letter comes as Amazon has been battling allegations that it hid facts and information while seeking unreliable approval for a 2019 deal with Future Group. Amazon has so far successfully used the deals of this deal to block a future deal with Reliance.

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