Future Retail

In a keenly awaited verdict, the Supreme Court held that Singapore’s Emergency Arbitrator (EA) award was enforceable in a plea filed by e-commerce giant Amazon against the Rs 24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail.

The Delhi High Court was informed on Friday by e-retail giant Amazon Inc. that "it is committed to help Kishore Biyani led Future Group from sinking".

Future Retail had alleged that the company in the e-commerce sector was allegedly interfering in the deal worth Rs 24,713 crore based on an interim order by the International Tribunal of Singapore.

The Delhi High Court has sought a response from Amazon on the plea made by the Kishore Biyani-led Future Retail Ltd. (FRL) not to interfere in the Reliance deal.

The Singapore International Arbitration Tribunal on October 25 restrained Future Retail from selling its retail business to Reliance Industries for Rs 24,713 crore.