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In a new development in the ongoing legal tussle between Amazon and Future Group, the Delhi High Court on Wednesday stayed further arbitration proceedings between the parties before the Singapore tribunal till February 1.
In a big blow to Amazon and a major relief to Future Group, the Delhi High Court has temporarily halted the SIAC hearing.
The SC should allow the arbitration to continue and both sides to the dispute must accept the arbitration award. That will go some distance towards restoring India’s credibility as an economy that is run by laws and rules
The Delhi HC dismissed pleas by Future Group to stop the arbitration proceedings with Amazon stating that Future's arguments have no merit.
While shares of Future Consumer fell up to 4.24% to Rs 7.45, Future Lifestyle stock lost 5.53% to Rs 49.5 on BSE.