Mukesh Ambani to challenge arbitration award in Future Group-RIL deal: Report

After reports that Kishore Biyani-led Future Retail may challenge the arbitration award from the Singapore-based arbitration centre, now Asia’s richest man Mukesh Ambani is exploring a countersuit against Jeff Bezos’ Amazon.com, according to a report by the Mint.

According to the report, RIL is likely to approach a court challenging the clause invoked by Amazon before the Singapore arbitration court to ensure that its Rs 24,713-crore deal to acquire Future group’s assets by Reliance Retail Ventures Ltd (RRVL) proceeds unhindered and without any delay. The deal would help Reliance almost double its footprint as India’s largest retailer.