HC restrains Future Group from moving ahead with Rs 24K crore Reliance deal on Amazon’s plea

NEW DELHI: The Delhi High Court Thursday upheld Singapore’s Emergency Arbitrator’s (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon.

Justice J R Midha directed Kishore Biyani-led FRL not to take further action on the deal and held that the group wilfully violated Singapore Arbitrator’s order.

The high court directed the Future Group and its directors to deposit Rs 20 lakh cost in Prime Minister’s Relief Fund for providing COVID-19 vaccines to senior citizens of Below Poverty Line (BPL) category.