Singapore International Arbitration Centre rules in favour of Amazon in Future Group case

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The Singapore International Arbitration Centre (SIAC) has ruled in favour of Amazon in its long-standing legal battle with Kishore Biyani-led Future Group, holding that Reliance Retail- Future merger deal breached its pre-existing contract. However, Amazon has managed to get minuscule damages of Rs 23.7 crore against claimed amount of Rs 1436 crore.

In a final award issued late Thursday night, the three-member tribunal said the 2020 board resolution by Future Retail Ltd (FRL) approving the sale of its retail, wholesale, and logistics assets to…



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Singapore International Arbitration Centre rules in favour of Amazon in Future Group case



The Singapore International Arbitration Centre (SIAC) has ruled in favour of Amazon in its long-standing legal battle with Kishore Biyani-led Future Group, holding that Reliance Retail- Future merger deal breached its pre-existing contract. However, Amazon has managed to get minuscule damages of Rs 23.7 crore against claimed amount of Rs 1436 crore.

In a final award issued late Thursday night, the three-member tribunal said the 2020 board resolution by Future Retail Ltd (FRL) approving the sale of its retail, wholesale, and logistics assets to…



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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