Reliance-Future deal: Amazon gets crucial verdict in its favour

Amazon has got a crucial verdict in its favour in the legal proceeding involving the Rs 24,713 crore deal between Reliance Retail and Future Group.

A Singapore arbitration panel has rejected Future Retail's plea to quash an order from last year that put its $3.4 billion deal with Reliance on hold, in a boost for its partner Amazon.com Inc which is seeking to block the transaction.

Amazon has been locked in a tussle with Future and accuses it of breaking contracts when it sold its retail assets to Indian market leader Reliance last year. Future denies any wrongdoing.