An end of legal routes for Kishore Biyani’s firm?

BENGALURU: The Supreme Court’s verdict on upholding the Singapore emergency arbitration order in favour of Amazon may signal an end of legal road for Kishore Biyani’s sinking retail empire, Future Group, with Rs 24,713-crore ( $3.4-billion) deal with Reliance Retail stock.

The SC’s landmark judgement which acknowledged the emergency arbitration orders within the ambit of Arbitration and Conciliation Act , as per the industry and law experts, also paves way for foreign institutional investors as well as the conglomerates to actively consider business deals/ investments in Indian firms with the lesser regulatory burden. In October last year, Amazon succeeded in securing an injunction on Future Retail Limited (FRLS) sale to Reliance, which the e-tailer said violates its first right of refusal.