The court was hearing a plea by Amazon seeking direction to order enforcement of Singapore arbitrator’s ruling restraining Future Group from going ahead with its deal with Reliance.
In its plea, Amazon alleged wilful disobedience of Singapore arbitrator’s ruling temporarily restraining Future Group from going ahead with sale of its retail operations to Reliance.
The legal spat between two of the world’s richest men – Amazon’s Jeff Bezos & Reliance’s Mukesh Ambani – has also sparked a ‘foreign versus local’ debate.
Biyani’s Future Group is caught in a tussle for India’s consumer retail market, worth nearly $1 trillion, between firms led by two of the world’s richest men.
By seeking to stall Ambani’s purchase of Future, Bezos may be signalling he’d rather remain a rival. Or, he’s buying time to sweeten offer currently on table.
Hearing Amazon’s request for an interim order, an arbitration court in Singapore has put temporary hold on Future Group's $3.4 bn deal to sell assets to Mukesh Ambani’s Reliance.
Amazon had agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail Ltd. after a period of between three and 10 years.
The men who hurt us don’t always start as villains. They’re often the 'nice guys.' They’re attentive, polite, and gentle. Until you realise that care was just control in disguise.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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