SIAC rejects Future’s plea to allow RIL deal

New Delhi: In a double win for Amazon, the Singapore International Arbitration Centre (SIAC) has rejected Future Retail’s (FRL’s) plea to lift the interim stay on its Rs 24,700-crore asset sale to Reliance Retail, the retail arm of the Mukesh Ambani-led conglomerate Reliance Industries, said a person familiar with the development.

This follows the Singapore tribunal’s ruling to make FRL a party to the dispute, arising out of the agreement between Future Coupons (FCPL), an unlisted Future Group entity, and Amazon.