Amazon wins interim award against Future group’s sale of retail business to Reliance Industries

Amazon on Sunday won an interim award against the Future group’s sale of its retail business to Reliance Industries Ltd (RIL) after a Singapore-based single judge arbitration panel put the deal on hold.

It may be recalled that the US-based retail giant had dragged the Future group to arbitration after it agreed to sell businesses to Reliance Retail.

Earlier, this month Amazon had slapped a legal notice on the group, alleging that the asset sale to Reliance violated an contractual agreement with the e-commerce giant. It then approached the Singapore International Arbitration Centre saying that the Future group breached the contract.