Industry

RIL deal: SIAC rejects Future plea to lift stay

Representational image.   | Photo Credit: Reuters

The Singapore-based arbitrator, SIAC, has rejected Future Retail’s plea to lift the interim stay on its ₹24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction.

The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail Ltd. (FRL) is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail.

FRL said in a filing it would decide its future action based on legal advice.


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Printable version | Dec 3, 2021 1:52:17 PM | https://www.thehindu.com/business/Industry/ril-deal-siac-rejects-future-plea-to-lift-stay/article37133208.ece

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