SC rules in Amazon's favour, holds Singapore EA award against FRL-Reliance Retail merger

FRL had argued that an EA is not an arbitrator under the Indian law as the term does not find any mention in the statute here. 

New Delhi: The Supreme Court Friday ruled in favour of US-based e-commerce giant Amazon by holding that Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail, was valid and enforceable under Indian laws. A bench of Justices R F Nariman also dealt with the larger question and as a proposition of law, held that an award of an EA of a foreign country is enforceable under the Indian Arbitration and Conciliation Act. FRL had argued that an EA is not an arbitrator under the Indian law as the term does not find any mention in the statute here.