Big victory for Amazon as SC allows its appeal against FRL-Reliance deal

In a major victory for the Amazon.com Inc., the Supreme Court on Friday held that it could validly seek an interim order from the Singapore arbitral tribunal which had halted the Future Group’s $3.4 billion sale of retail assets to Mukesh Ambani’s Reliance Industries Ltd (RIL).

The bench, headed by justice Rohinton F Nariman, affirmed the single judge order of the Delhi high court and upheld the enforceability of a Singapore-based Emergency Arbitrator (EA) award in favour of Amazon.

Reading out the operative part of the order, justice Nariman said the EA award was upheld under Section 17 of the Arbitration and Conciliation Act, 1996.