Delhi High Court refuses to pass interim ruling against SIAC decision

The Delhi High Court on Friday refused to pass an interim ruling against the decision of a Singapore arbitration panel, which upheld an October 2020 emergency order restraining the Future Group from selling its assets to Reliance Retail.

The Singapore International Arbitration Centre (SIAC) had last week dismissed a petition by Future Retail Ltd (FRL) asking the arbitrators to lift the October 2020 stay on the ₹25,000-crore deal to sell its assets to Reliance Retail. A day earlier, the SIAC had dismissed another petition by FRL to remove it as a party to the ongoing arbitration in Singapore.