Future Retail says Amazon dispute order not binding on company

Future Retail Ltd (FRL) said on Sunday that a Singapore arbitrator’s order in its dispute with Amazon.com Inc is not enforceable under the country’s law and not binding on the company.

Amazon on October 25 won an injunction from the arbitrator to halt FRL’s deal to sell its retail assets to Reliance Industries for $3.4 billion, arguing the Indian retail group had violated certain pre-existing agreements it had with the U.S. e-commerce giant.

Both FRL and billionaire Mukesh Ambani’s Reliance said in news releases later they wanted to press on with the deal without delays, setting the stage for a showdown between the Indian companies and Jeff Bezos-led Amazon.