Amazon has asked India's antitrust regulator to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows. The approval for the deal was a "nullity in the eyes of law" as an arbitrator's order was still in force, according to the letter sent by Amazon.com Inc to the Competition Commission of India (CCI) last week. The battle between two of the world's richest men, Amazon founder Jeff Bezos and Reliance Industries Ltd boss Mukesh Ambani, marks a contest for preeminence in India’s booming, nearly trillion-dollar retail market.
India's economic crime-fighting agency summoned officials of Amazon.com Inc and its warring partner Future Group in a case related to alleged violation of foreign investment rules, according to sources with direct knowledge of the matter. Amazon received a summons issued by India's Enforcement Directorate in connection with the Future Group, an Amazon spokesperson told Reuters on Sunday.
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