Amazon gets interim relief as Singapore arbitration court pauses Future-RIL deal

Amazon.com Inc. on Sunday secured interim relief in a Singapore arbitration court, stalling partner Future Group’s plan to sell its retail and wholesale assets to a unit of rival Reliance Industries Ltd for ₹24,713 crore.

The e-commerce giant claimed that Future Group had violated an investment contract when it agreed to sell its retail assets to Reliance Retail Ventures Ltd (RRVL).

A single-judge bench of V.K. Rajah S.C. barred Future Retail from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.

The parties will have to wait for further orders from the tribunal when constituted, Rajah said in his order.