Future-RIL deal: Amazon gets a favourable ruling in arbitration case

Future can't go ahead with its Rs 24,713-crore deal with Reliance till the completion of the arbitration process as the emergency arbitrator ruling is in 'toto'

Jeff Bezos-led Amazon has won a favourable ruling for its plea in Singapore against Kishore Biyani-headed Future Group striking a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL). Future has been told not to proceed with its sale of shares to RIL till the outcome of the arbitration process, according to the sources.

An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place this month to understand the merit in the case. The hearing took place at the Singapore International Arbitration Centre (SIAC).

“The arbitration proceedings will start after the constitution of a tribunal within 90 days,”