In a setback to Kishore Biyani's Future Group, the Delhi high court on Tuesday dismissed pleas filed by Future Retail (FRL) and Future Coupons (FCPL) that sought to end arbitration proceedings with Amazon before the Singapore International Arbitration Centre (SIAC).
This gives a new lease of life to the US e-tailer's efforts to block the asset sale by Future Group, which includes supermarket chain Big Bazaar, to Reliance Retail in a Rs 25,000-crore deal.
Justice Amit Bansal, who had reserved the order on January 3 on the petitions filed by the two Future companies, observed that it is not for the court to interfere with scheduling of arbitration proceedings.