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Amazon has asked India’s anti-competitive organization to withdraw its approval of the Reliance-Future deal

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© Reuters. FILE PHOTO: People buy clothes inside the Big Bazaar retail store in Mumbai (India) on November 25, 2020. REUTERS / Niharika Kulkarni / File Photo

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By Aditya Kalra and Abhirup Roy

NEW DELHI (Reuters) – Amazon has asked India’s anti-competition regulator to withdraw its $ 3.4 trillion deal from Future Retail, saying it was “illegally obtained” in violation of the order to suspend the deal, according to a letter seen by Reuters .

The approval of the agreement was a “nullity before the law” because an arbitrator’s order was still in force, according to a letter sent last week to Amazon.com Inc. (NASDAQ 🙂 India Competition Commission (CCI).

The struggle between the world’s two richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd leader Mukesh Ambani, marks a competition to gain dominance in India’s nearly $ 1 trillion retail market.

The winner of the fight for Future Retail Ltd, India’s second-largest retailer and unknown local partner on Amazon, will take pole position in the race 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 Indian courts did not want to overturn it.

If the regulator agrees to the previously unannounced letter, it would be a major setback for the oil-based telecommunications conglomerate Reliance.

Amazon last year won an order against a Singapore arbitrator’s deal on the grounds that Future had breached contracts that prevented it from selling its internal Reliance assets.

But then the CCI cleared the deal.

The future deceived the CCI and continued to seek approval for the deal, Amazon said in a letter Wednesday, saying the order was a “bold attempt to overthrow the rule of law.”

Amazon requested a personal hearing from the CCI to present its case.

The letter is also being filed against Amazon for allegedly misrepresenting the facts and hiding the information, while seeking permission against the trust for the 2019 deal with the Future Group.

Amazon has so far successfully used the contracts in this deal to block Future’s deal with Reliance.

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