Saturday, 28 June, 2025

SIAC Rules Reliance–Future Deal Breached Amazon Contract; ₹24 Cr Awarded

The Singapore International Arbitration Centre (SIAC) ruled in favour of Amazon, finding that Future Group’s 2020 asset sale to Reliance Retail violated its 2019 shareholder agreement. The tribunal awarded Amazon ₹23.7 crore in damages—far below the ₹1,436 crore claimed—with 10.3% annual interest and arbitration costs imposed jointly on promoters including Kishore Biyani. The decision reinforces Amazon’s contractual rights despite the modest compensation awarded.