Future Retail- Reliance wouldn’t merge, Amazon argument wins in SC

New Delhi:
The Supreme Court upheld the Singapore Emergency Arbitrator (EA) verdict that restrains Future Retail Ltd from its merger with Reliance Retail. The verdict came as a boon for global e-commerce giant Amazon which was involved in the legal battle with Future Retail. Amazon already had formed an agreement with Future Retail Ltd. However, Future Retail tried the merger while the agreement with Amazon was in place. Future Retail is the world’s second-largest retailer with around 1700 stores, including the Big Bazaar.