India's e-commerce sector is poised for significant changes as the Competition Commission of India (CCI) investigates allegations against Amazon and Walmart-backed Flipkart.

U.S giant Amazon’s face-off against India’s Reliance over Future Retail has grabbed attention in India and beyond. Amazon, eager to make a dent in India — one of the world’s fastest-growing retail markets, is now locked in a protracted, complex legal battle of more than a year with Future, stalling its $3.4 billion sale to Reliance, owned by India’s richest man Mukesh Ambani. After colourful courtroom exchanges, in early March both companies agreed to hold discussions to resolve their dispute, but these too appear to have failed. All the while, lawyers are eagerly watching the developments unfold.

Walmart Inc’s Flipkart and Amazon.com Inc have filed legal challenges against the resumption of an antitrust investigation into their business practices, according to sources and a legal filing viewed by Reuters.

The Singapore International Arbitration Centre (SIAC) has issued an emergency ruling in favour of Amazon.com, putting on hold conglomerate Reliance Industries’ bid to acquire Indian’s Future Retail.

Cyril Amarchand Mangaldas has advised private equity firm Samara Capital, and AZB & Partners has advised global giant Amazon on the firms’ joint $590 million purchase of Indian food and grocery retail chain More from Aditya Birla Group, which was counselled by Veritas Legal.