ETtech Explainer: Inside Amazon’s victory against Future Group in Reliance deal

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The Singapore International Arbitration Centre (SIAC) ruled in favour of Amazon on Thursday, confirming that Future Group violated the contract by making a deal to sell its retail business to Reliance in 2020.

ET takes a close look at the long-standing legal battle between Kishore Biyani-led Future Group and Amazon that was awarded only Rs 23.7 crore in damages after the Thursday ruling, which is far less than the Rs 1,436 crore it claimed.

What’s the case all about?

Back in 2020, Future Group, which owns major retail players like Big Bazaar, Food…



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ETtech Explainer: Inside Amazon’s victory against Future Group in Reliance deal



The Singapore International Arbitration Centre (SIAC) ruled in favour of Amazon on Thursday, confirming that Future Group violated the contract by making a deal to sell its retail business to Reliance in 2020.

ET takes a close look at the long-standing legal battle between Kishore Biyani-led Future Group and Amazon that was awarded only Rs 23.7 crore in damages after the Thursday ruling, which is far less than the Rs 1,436 crore it claimed.

What’s the case all about?

Back in 2020, Future Group, which owns major retail players like Big Bazaar, Food…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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