The Supreme Court is currently hearing a matter on whether an emergency arbitration award won by Amazon in the Singapore International Arbitration Centre is valid and whether the Future Group can be restrained from completing the transaction
The petition has been moved by Amazon.Com NV Investment Holdings LLC against Future Coupons Private Limited, Future Retail Limited, & Ors, to restrain it from alienating, disposing of, transferring its assets.
New Delhi (ILNS): There was some level of good news for Future Retail in its complicated deal involving Reliance Retail on the one hand and Amazon on the other. The Competition Commission of India (CCI) today approved its sale to Mukesh Ambani’s Reliance Retail.
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.