HC puts Future-Reliance Retail deal on hold

New Delhi: The Delhi High Court put on hold the deal to sell Future Group’s retail assets to Reliance Retail and also stated that the emergency award passed by the Singapore International Arbitration Centre (SIAC) is enforceable in India. The SIAC had said the transaction should be halted until it decides on Amazon’s challenge against the acquisition plan. Lawyers for Future Group and Reliance Retail have been arguing that the SIAC doesn’t have jurisdiction and that the interim ruling isn’t valid in India. The single-judge bench ordered the deal suspended until his ruling—reserved for later —is announced.