Ruling in favor of Amazon’s plea, a Singapore-based arbitration panel has put the deal between Kishore Biyani’s Future Group and Mukesh Ambani’s Reliance Retail (popularly known as the Future-RIL deal in media) on hold.
The panel says that the deal cannot go through until it finally decides the matter while, Reliance Retail says the deal is fully enforceable under Indian law.
Reliance Retail had acquired the retail, wholesale, logistics and warehousing businesses of the Future Group for INR 24K crores in a August 30th deal.
