Future to move Delhi HC on Singapore tribunal order against Reliance deal

FUTURE RETAIL, a unit of Future Group, is likely to move the Delhi High Court seeking directions on going ahead with its Rs 24,713-crore deal with Reliance Retail Ventures, which has been put on hold by the Singapore International Arbitration Centre (SIAC), sources told The Indian Express.

The petition, which is likely to be filed by Tuesday, is expected to challenge the interim order issued on Sunday by an emergency arbitrator of the SIAC. Future Retail is hopeful of getting an early hearing, within the week, sources said.

Following a plea by e-commerce giant Amazon citing alleged contractual violations, the interim order had asked Future Retail, Future Coupons and the parent company Future Group “not to take any steps in furtherance to the Board Resolution of August 29”.