Future Retail-Reliance deal: Big win for Amazon in SC. What’s next

NEW DELHI: In a big victory for e-commerce giant Amazon, the Supreme Court on Friday upheld Singapore’s Emergency Arbitrator (EA) award restraining a deal between Future Retail Ltd and Reliance Retail.

Amazon and Future Retail have been engaged in a bitter legal fight over the later’s Rs 24,713 crore asset sale deal with Reliance Retail.

The decision comes as a major blow to the Kishore Biyani-led Future Retail as questions remain regarding the future of the deal.

According to reports, the Singapore International Arbitration Centre (SIAC) — which pronounced the initial award in the case — has concluded the final hearing over Amazon’s plea and a final judgement in the matter is awaited.