Future Retail tanks 5% as SIAC rejects company’s plea

NEW DELHI: Shares of Future Retail NSE -4.97 % tanked 5 per cent in Thursday’s trade after the the Court of Singapore International Arbitration Centre (SIAC) turned down a plea by the company to be excluded from being a party to the Amazon-Future Coupons’ arbitration proceedings.

In October, a single-judge bench of V K Rajah had given an interim arbitration award, barring Future Retail Ltd (FRL) from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.