Amazon scores big win as India court stalls Future’s deal

India’s top court on Friday handed Amazon.com Inc a major victory in a dispute where it sought to block its partner Future Group from selling $3.4 billion in assets to rival Reliance Industries.

The outcome of the tussle involving two of the world’s richest men, Amazon’s Jeff Bezos and Reliance’s Mukesh Ambani, is seen reshaping India’s pandemic-hit shopping sector and deciding if Amazon can blunt Reliance’s dominance of the country’s nearly trillion-dollar retail market.

Amazon and Future have been locked in legal battles over the Future Group deal, with the U.S. firm accusing the Indian group of violating pre-existing contracts when it sold its assets to Reliance. Future has denied any wrongdoing.