Supreme Court reserves verdict on Amazon’s pleas against Future Retail-Reliance deal

NEW DELHI: The Supreme Court Thursday reserved verdict on the pleas of e-commerce giant Amazon against the Rs 24,713 crore deal for merger of Future Retail Ltd (FRL) with Reliance Retail.

Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the Singapore’s Emergency Arbitrator (EA) award, which restrained FRL from going ahead with the merger, was valid and enforceable.

“So we close the case now. The judgement is reserved,” a bench of justices R F Nariman and B R Gavai said after senior advocates Harish Salve and Gopal Subramanium, appearing for FRL and Amazon respectively, concluded their submissions in the case.