SC orders Amazon, Future to move Singapore arbitral tribunal

For resumption of arbitration proceedings in dispute concerning Future’s proposed ₹24,500 crore deal with Reliance

The Supreme Court on Wednesday ordered Amazon and Future to move the Singapore International Arbitration Centre-governed arbitral tribunal to resume the arbitration proceedings in a dispute concerning Future’s proposed ₹24,500 crore deal with Reliance.

A three-judge Bench led by Chief Justice of India N.V. Ramana set aside a January order of a Division Bench of the Delhi High Court that stayed the proceedings before the arbitral tribunal.

“The parties will approach the arbitral tribunal to resume the arbitration proceedings on an understanding that the arbitral tribunal may hear FRL’s [Future Retail Limited] termination application and termination applications filed by respondents [Future group companies] under Section 32(2)(c) of the Arbitration and Conciliation Act, 1996 in priority to other matters, and pass orders,” the Supreme Court directed.

Section 32(2)(c) says “the arbitral tribunal shall issue an order for the termination of the arbitral proceedings where the arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible”.

“I hope there is no need for me to hear this matter again during my tenure,” Chief Justice Ramana remarked while disposing off the case.

On April 4, the court asked the companies to file a joint memo of consent terms after both agreed to resume proceedings before the Singapore International Arbitration Centre (SIAC).