Delhi HC orders status quo on $3.4 bn Future Group-Reliance Retail deal

Ruling seen as interim relief to Amazon; next phase of arbitration likely to begin soon in Singapore, say sources

The Delhi High Court on Tuesday asked Future Retail Ltd (FRL) to maintain the status quo with respect to its $3.4 billion (about Rs 24,700 crore) deal with Reliance Retail. The court said it was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon.

The development has come as a temporary relief for Jeff Bezos-led e-commerce giant Amazon, which is battling to thwart the Future group’s asset sale to Reliance.

“Hearing Amazon’s plea, the high court has granted an interim relief to Amazon, directing all authorities and parties to maintain the status