New Delhi: The Supreme Court on Friday ordered in favour of e-commerce giant Amazon, restraining Future Group’s deal with Reliance Industries was valid and enforceable under Indian laws. 

Singapore's Emergency Arbitrator (EA) ordered restraining the Rs. 24.731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail, after allowing the plea of Amazon.com NV Investment Holdings LLC. Amazon alleged that the Future group had breached the contract agreement with it. 

The bench headed by Justice R.F. Nariman held that an award of EA of a foreign country is enforceable under the Indian Arbitration and Conciliation Act. 

“The EA Order is an order within section 17 (1) and can be enforced under Section 17(2) of the Arbitration and Conciliation Act,” it said.

Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the EA award was valid and enforceable.

Amazon.com NV Investment Holdings LLC and Future Retail Limited (FRL) are locked in a legal battle with regard to the Future-Reliance deal. Amazon had pleaded before the Supreme Court that the EA award was valid and enforceable. 

Reliance Retail has announced that it will buy Future Group's retail, wholesale and logistics, and warehousing business for Rs. 24.713 crore in August 2020. 

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Amazon has approached Singapore International Arbitration Centre (SIAC) over an alleged breach of contract by the Future group.

Amazon has filed an SLP before the Supreme Court for enforcement of the order of the EA dated October 25, 2020, restraining Future group from going ahead with its deal with Reliance retail.