Future Retail must take part in arbitration over a commercial dispute with Amazon, a Singapore arbitration panel ruled on Wednesday, rejecting the Indian retailer’s bid to avoid the process.
Amazon is trying to block Future’s $3.4 billion sale of its retail assets to Reliance Industries, accusing it of breaking contracts. Future denies any wrongdoing.
After the arbitrator put the deal on hold last year in an interim decision, Future argued it should be excluded from arbitration because Amazon had initiated it incorrectly under a contract it signed with another Future group firm.
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