TIL Desk/Business/New Delhi/ Amazon-Future-Reliance case: Supreme Court rules in favour of Amazon and holds that Singapore’s Emergency Arbitrator Award that restrained Future Retail Ltd (FRL) from going ahead with its merger deal with Reliance Retail is enforceable in Indian law.
Amazon had taken partner Future Group to court saying it violated contracts by agreeing to sell retail assets to market leader Reliance Industries last year for over Rs 27,000 crore. Future denies any wrongdoing.
Last week, the Supreme Court reserved its judgement in the case and is set to decide whether a ruling by a Singapore tribunal restraining Future from going ahead with its merger with Reliance is valid.
