07 April 2022, Mumbai:
Supreme Court ends Delhi High Court's stay on proceedings.
The Supreme Court on Wednesday asked the Singapore International Arbitration Centre (SIAC) to resume proceedings in the dispute between Amazon and Future Retail Ltd (FRL) over the Indian company's plan to sell its retail assets to a unit of Reliance Industries Ltd (RIL).
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The SIAC proceedings had been put on hold by the Delhi High Court three months ago.
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The three-member bench, comprising chief justice NV Ramana and justices Krishna Murari and Hima Kohli, was hearing Amazon's petition against the high court order and was informed that both sides had agreed to the resumption.
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CREDITS: ET Dt 07-04-2022 (The news article has not been edited by DFU publications staff).
