A stay on the ongoing arbitration proceedings in Singapore between Amazon-Future

- The next hearing in the Delhi High Court is on February 1

- Future Group with Reliance for Rs. Future and Amazon have been embroiled in controversy since the Rs 24,500 crore deal

New Delhi: A division bench of the Delhi High Court has stayed the ongoing arbitration proceedings in Singapore between Amazon and Future Group. Amazon and Future Group are embroiled in a controversy over a Rs 500 crore deal with Reliance.

The Delhi High Court has also stayed the January 4 single judge judgment. The single judge of the High Court yesterday rejected the pleas of Future Group companies seeking to declare the arbitration proceedings with Amazon illegal.

A bench comprising Chief Justice DN Patel and Justice Jyoti Singh said that the case was in favor of Future Retail Limited (FRL) and Future Coupons Private Limited (FCPL). If the stay is not placed they will suffer irreparable damage.

Announcing a further hearing of the case on February 1, the bench said, "We have stayed the arbitration proceedings till the date of the next hearing and the single judge's verdict on January 4."

The High Court has issued notices to Amazon and NV Investment Holdings LLC regarding the appeals of FRML and FCPL challenging the single judge's judgment.