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Delhi HC Upholds Emergency Award Passed in Favour of Amazon Against Future-Reliance Deal - (19 Mar 2021)

ARBITRATION

Delhi High Court has stopped Future Group from going ahead with the sale of its retail assets to Reliance Retail, upholding Amazon’s argument that the Emergency Award of the Singapore International Arbitration Centre (SIAC) should be adhered to. The Court has held that the emergency arbitrator is an arbitrator for all the intents and purposes under sec. 17(1) of Arbitration and Conciliation Act, 1996 and an order passed by such an emergency arbitrator is enforceable under sec. 17 (2) of the Act.

Tags : DELHI HIGH COURT FUTURE-RELIANCE DEAL

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