(Bloomberg) Amazon.com Inc. won a crucial court case to halt billionaire Mukesh Ambani’s planned $3.4 billion purchase of an indebted Indian retailer, a big boost to the global e-commerce giant’s ambitions of dominating the country’s $1 trillion retail market.On Friday, a two-judge bench of India’s Supreme Court ruled that an emergency order by a Singapore arbitrator last year, which stopped Reliance from proceeding with the deal, is legally binding. Amazon had approached the arbitration cour
When parties subject themselves to rules which recognise an emergency arbitrator, then the order of such an arbitrator will be valid in Indian courts, the Supreme Court has held in the Future Retail Ltd. versus Amazon.com NV Holdings LLC case on Friday.
India Business News: NEW DELHI: Future Retail is expected to file a special leave petition and appeal against the order of Justice Midha in the Supreme Court to obtain app.
The Supreme Court, in a big relief to e-commerce giant Amazon, on Friday upheld the order of the Singapore emergency arbitrator restraining the Kishore Biyani-led Future group from going ahead with.