Future Retail may challenge Amazon’s interim award verdict

Reliance Industries Ltd (RIL) and the Future group are digging in their heels even as Amazon.com Inc won an interim award against the latter with regard to the sale of its retail business to Mukesh Ambani.

Future Retail (FRL) on Monday hinted that it may challenge the arbitration award before Indian legal forums, to ensure that the Rs 24,713 crore deal with Reliance proceeds unhindered and without any delay.

Late on Sunday, Reliance Retail Ventures Ltd (RRVL), said that it has entered into the transaction for acquisition of assets and business of FRL “under proper legal advice and the rights and obligations are fully enforceable under Indian Law’’.