The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August

Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year

US-based Amazon has requested Sebi to direct the Indian stock exchanges not to issue a 'no-objection certificate' to Future Retail

A bench of Chief Justice D N Patel and Justice Jyoti Singh issued notice to FRL, Future Coupons Pvt Ltd (FCPL), Reliance Retail and the Biyanis seeking their stand on the plea by Amazon against the observations made by the single judge in a December 21, 2020 interim order

In its letter dated January 5, Amazon urged the market regulator to direct the Indian stock exchanges not to issue any no-objection or approval letter to Future Retail Ltd

The three-member arbitration panel will be led by Singaporean barrister Michael Hwang, while Albert van den Berg and Jan Paulsson will be the two other members

Sources said that with the appointment of Hwang as the presiding arbitrator, the tribunal is expected to meet soon and begin the arbitration proceedings between Amazon and Future

Biyani said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance

The investments have been made even though most of the Amazon's business units in India registered losses during the fiscal

With lockdowns heavily restricting physical store sales and consumers flocking to online mode of shopping, 2020 saw a dramatic shift in consumption behaviour and adoption of the digital medium

India has challenged Vodafone arbitration award in Singapore on Dec 21; Centre recently discussed Vodafone tax dispute award at highest level, including with Prime Minister Narendra Modi

International arbitration tribunal has asked India to pay Rs 8,000 crore as damages to Cairn; winning of case ends one of the most high profile disputes in India

Delhi High Court passed the order on FRL's petition that argued that Amazon writing to the authorities regarding the emergency arbitrator's award tantamounts to meddling with the Rs 24,713 crore RIL-Future deal

Issue was recently discussed at a meeting in which PM Modi was also present but final decision will most likely be taken in next meeting after weighing in all pros and cons

Share of Future Retail hit lower circuit of 5% and fell to Rs 82.35 against previous close of Rs 86.65 on BSE

Stocks to watch today on November 26: Future Retail, DHFL, Siemens, AstraZeneca Pharma, Ashok Leyland, Laurus Labs among others are the top stocks to watch out for in Thursday's trading session

If the arbitration award in the Cairn cases goes against India, the government has to pay the British firm over Rs 7,600 crore to reverse the dividend and tax refund it had ceased and shares it sold to recover part of the tax demand

Reliance earlier stated that Reliance Retail Ventures (RRVL), the holding company of its retail businesses, intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay

Future Group and Amazon have been locked in a battle after the US-based company took Future Retail into an emergency arbitration over alleged breach of contract

The Delhi High Court has issued summons to Amazon, Future Coupons and Reliance Retail and asked them to file their written statements within 30 days