Future-Reliance deal: Singapore EA award valid, needs to be executed, Amazon tells SC

Singapore’s Emergency Arbitrator (EA) award, restraining Future Retail (FRL) from going ahead with its Rs 24,713 crore merger deal with Reliance Retail, is “valid” and needs to be executed, Amazon on Tuesday told the Supreme Court which commenced hearings on its pleas against the amalgamation. A bench comprising justices R F Nariman and B R Gavai started hearing the arguments from senior advocate Gopal Subramanium, appearing for Amazon.com NV Investment Holdings LLC, who apprised the apex court of the facts and legal proceedings so far in the case.

The US-based e-commerce giant said the EA award of Singapore International Arbitration Centre (SIAC) was enforceable and the single-judge bench of the Delhi High Court rightly gave an interim order in its favour granting a stay on the ongoing amalgamation.