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Future and Amazon : The agreement before judgement


The 49% shares in Future Coupons Pvt. Ltd were bought by Amazon on a condition that without its consent, Future and its promoters won't sell any stake and there will be no alliance with almost 30 retail entities, including RIL.  

Getting over the condition, the Future Group recently made a deal with Reliance Industries Limited to sell its assets. However, this deal needs to be approved by some authorities, including SEBI. In between, Amazon knocked the door of Securities and Exchange Board of India (SEBI) to consider the interim judgement of a Singapore arbitration court regarding this matter. The judgement from Singapore International Arbitration Centre (SIAC) may take time and it won't be given without the mutual agreement of Amazon and Future to appoint an arbitration panel. Apart from this, if SEBI or any other regulatory authority in India approves this RIL-Future deal then the whole arbitration process will become useless.  


If Amazon and Future fail to agree on continuing with the SIAC arbitration within a week then a protracted legal tussle is expected between the two. In case of dissatisfaction with SIAC ruling and Amazon, the only option will be an Indian Court. Until and unless the country court doesn't issue directions to any of the parties, the arbitration ruling will not be enforceable. At last, if this matter doesn't settle down by agreement then ultimately it will reach the Supreme Court.


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