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Now, Amazon Scores Over Future Retail In Major Court Decision: 10 Points – dot newz

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Amazon and Future have been locked in legal battles for several months

New Delhi:
The Delhi High Court today dismissed Future Retail’s plea to declare arbitration proceedings with its warring partner Amazon as illegal. Justice Amit Bansal of the Delhi High Court said the filings were dismissed, without giving any further details.

Here’s your 10-point cheatsheet to this big story:

  1. The ruling came after Future urged the court that given India’s antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future, there was no legal basis for the arbitration between the two sides to continue.

  2. As part of the deal between Amazon and Future Coupons, Future Retail would have been able to place its products on Amazon’s online marketplace.

  3. Amazon and Future have been locked in legal battles for several months. The US company has successfully used the terms of its Rs 1,430 crore investment in a Future unit in 2019 to block the Indian retailer’s attempt to sell retail assets to rival Reliance Industries, alleging breach of certain contracts.

  4. In December, the Competition Commission of India, or CCI, suspended its approval for Amazon’s deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd, the promoter of Future Retail, and charged a Rs 202 crore fine on the e-tailer.

  5. Appearing for Future Retail, senior advocate Harish Salve had said that the tribunal, which is scheduled to hear issues concerning damages from Wednesday to Friday, should first take up the termination application and defer the proceedings on other issues.

  6. Senior advocates Gopal Subramanium and Amit Sibal, appearing for Amazon, had argued that there was no denial of equal treatment by the tribunal, which has scheduled the termination application for hearing on January 8, and contended that the tribunal has discretion to conduct its own proceedings.

  7. Amazon is objecting to the sell-off plans, accusing Future Group of breaching its 2019 investment deal. Future Coupons was founded in 2008 and is engaged in the business of marketing and distribution of gift cards, loyalty cards and other reward programmes to corporate customers.

  8. In October last year, the high court had declined to stay the arbitration tribunal order refusing to interfere with the Emergency Award, which restrained Future Group from going ahead with the deal with Reliance.

  9. Several issues arising from the Amazon-Future legal battle are pending before the Supreme Court.

  10. Future Group had first made the request for termination of the deal before a Singapore arbitration tribunal that is hearing the case but the request was not accommodated on an urgent basis by the tribunal, which then brought Future Group before the Delhi High Court.

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National

Shiv Sena, NCP To Contest Goa Assembly Elections Together – dot newz

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Mumbai:

Shiv Sena and the Nationalist Congress Party (NCP) have decided to contest the upcoming Goa Assembly elections together in alliance, Shiv Sena leader and MP Sanjay Raut said on Sunday.

Speaking to ANI, Raut said, “Shiv Sena and NCP will contest together in Goa assembly elections. There will be a discussion on seat sharing on January 18. NCP’s senior leader Praful Patel will discuss seat-sharing formula in Goa on January 18. Only after that, it will be clear who will contest on how many seats.”

“Political dynamics are different in Maharashtra and Goa. NCP, Shiv Sena, Congress are in alliance in Maharashtra. However, at the moment Congress has decided to contest alone without forming an alliance with any other party in the state,” he said.

Goa elections are set to be held in a single phase on February 14. The counting of votes will be held on March 10.

In view of the Uttar Pradesh Assembly elections, Shiv Sena leader did not comment much on Chief Minister Yogi Adityanath’s decision to contest from Gorakhpur.

“I will not make any comment on Yogi ji’s decision to contest from Gorakhpur. He has been fielded from his native constituency. So, it is a good thing. I have heard that Aparna Yadav is going to join BJP. It’s good to know,” he said.

Yadav is the daughter in law of Samajwadi Party leader Mulayam Singh Yadav.

Meanwhile, elections for the 403 assembly constituencies in Uttar Pradesh will be held in seven phases starting February 10, the Election Commission said. The polling in Uttar Pradesh will be held on February 10, 14, 20, 23, 27 and March 3 and 7 in seven phases.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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“India Feels Proud”: PM Modi On 1 Year Of Vaccination Drive – dot newz

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Prime Minister Narendra Modi said the vaccination drive added great strength to fight against Covid.

New Delhi:

Lauding India’s COVID-19 vaccination drive as it completes a year, Prime Minister Narendra Modi today said it has added great strength to the fight against the pandemic and has resulted in saving lives and protecting livelihoods.

When the pandemic first struck, not much was known about the virus. However, our scientists and innovators immersed themselves in developing vaccines, he said. India feels proud that our nation has been able to contribute to fighting the pandemic through vaccines, PM Modi tweeted.

“I salute each and every individual who is associated with the vaccination drive,” he said, adding that the role of our doctors, nurses and healthcare workers is exceptional.

“When we see glimpses of people being vaccinated in remote areas, or our healthcare workers taking the vaccines there, our hearts and minds are filled with pride,” he said.

The prime minister asserted that India’s approach to fighting the pandemic will always remain science based. Health infrastructure is also being augmented to ensure that fellow citizens get proper care, he said, asking people to keep following all COVID-19 related protocols.

The countrywide vaccination drive against COVID-19 on Sunday completed one year, during which over 156.76 crore vaccine doses were administered.

According to Health Ministry officials, over 92 per cent of the adult population have received at least one dose while over 68 per cent have been fully vaccinated. The Centre will issue a postal stamp this afternoon to mark the completion of one year of the inoculation drive.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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“We Invite You”: Maharashtra’s Red Carpet For Elon Musk After Telangana – dot newz

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Elon Musk had said Tesla is “working through” a lot of challenges with the Indian government. (File)

New Delhi:

Another state has now invited US billionaire Elon Musk to invest after he said that electric car pioneer Tesla was “working through” a lot of challenges with the Indian government ahead of long-awaited plans to launch in the country.

After Telangana’s invitation earlier this week, a Maharashtra minister today offered Mr Musk a place to set up Tesla’s manufacturing plant in his state.

Maharashtra Water Resources Minister Jayant Patil, in a reply to Mr Musk’s tweet, said, “Maharashtra is one of the most progressive states in India. We will provide you all the necessary help from Maharashtra for you to get established in India.”

“We invite you to establish your manufacturing plant in Maharashtra,” the Nationalist Congress Party leader added.

Earlier, Telangana minister KT Rama Rao had invited the Tesla Inc’s chief executive to set shop in his state and said that his government will be “happy to partner Tesla in working through the challenges”.

Mr Musk, in response to a tweet asking him about a potential India launch date, had not identified the “challenges” being worked on with the government.

Tesla had plans to begin selling imported cars in India last year and has been lobbying the government to lower import duties, which can be as high as 100 percent, on electric vehicles before it enters the market.

Elon Musk had tweeted last July that Tesla wanted to enter India “but import duties are the highest in the world by far of any large country”.

Even as Tesla is holding out for a cut in import duties, luxury carmaker Mercedes-Benz will start assembling the electric version of its flagship S-Class sedan, the EQS, in India later this year.



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