Supreme Court has ruled in favour of the US-based e-commerce giant Amazon by holding that the Singapore'’s Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore merger deal of Future Retail with Reliance Retail, was valid and enforceable under Indian laws. Future Retail (FRL) had argued that an EA is not an arbitrator under the Indian law as the term does not find any mention in the statute.
Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the EA award was valid and enforceable.
Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.
