Future Retail party to dispute with Amazon: Arbitration panel

In what can be seen as a setback for Future Retail (FRL), the Singapore arbitration tribunal on Wednesday rejected its contention that it be excluded from the ongoing commercial dispute with Amazon Inc with regard to its Rs 24,713-crore merger deal with Reliance Retail.

This stance of the arbitration panel further bolsters Amazon’s stand that FRL violated contractual agreement by signing a merger deal with Reliance Retail. On its part, FRL has been opposing this stand of Amazon stating that it did not commit any wrong as Amazon’s contract was not with FRL but with group firm Future Coupons (FCPL).