India’s Supreme Court barred on Monday a final ruling by a tribunal reviewing Future Group’s $3.4 billion sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc.
The outcome of the tussle involving two of the world’s richest men, Amazon’s Jeff Bezos and Reliance’s Mukesh Ambani, could reshape India’s pandemic-hit shopping sector and decide if Amazon can blunt Reliance’s dominance of retail.
Three people familiar with Monday’s proceedings said the Supreme Court ordered that while the tribunal can continue to review the deal and oversee the approval process, it could not pass a final order while the court hears Amazon’s concerns.
Reporting by Aditya Kalra and Suchitra Mohanty in New Delhi; Editing by Clarence Fernandez
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