{"id":799060,"date":"2021-10-12T09:44:03","date_gmt":"2021-10-12T09:44:03","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2021\/10\/12\/future-awaits-singapore-arbitration-verdict-amazon-says-not-settling\/"},"modified":"2021-10-12T09:44:03","modified_gmt":"2021-10-12T09:44:03","slug":"future-awaits-singapore-arbitration-verdict-amazon-says-not-settling","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2021\/10\/12\/future-awaits-singapore-arbitration-verdict-amazon-says-not-settling\/","title":{"rendered":"Future awaits Singapore arbitration verdict; Amazon says not settling"},"content":{"rendered":"<p>Even as the Future Group awaits the final order of Singapore International Arbitration Centre, American e-commerce giant Amazon said there are no settlement talks currently going on with the Future Group.<\/p>\n<p>&#8220;We have consistently offered to assist Future Retail during the economic downturn caused by Covid and reiterated our openness for a dialogue even during the Delhi High Court hearings and this should not to be misconstrued as an offer for settlement,&#8221; said an Amazon spokesperson on Tuesday.<\/p>\n<p>Both Future Group and Amazon have been litigating for a year after Future Group signed a deal to sell its entire businesses to Reliance Retail. Amazon, which held 49 per cent stake in a holding company of Future Retail alongwith Future group founder Kishore Biyani said Reliance deal is a breach of its non-compete agreement with Future and moved the arbitration court.<\/p>\n<p>After the Singapore International Arbitration Centre restrained the transaction, Future Group moved Delhi High court. The matter is currently pending with the Supreme Court.<\/p>\n<p>A source at Future group said it is awaiting the final verdict from Singapore arbitrator and once the verdict is out, they will decide on the next course of action.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even as the Future Group awaits the final order of Singapore International Arbitration Centre, American e-commerce giant Amazon said there are no settlement talks currently going on with the Future Group. &#8220;We have consistently offered to assist Future Retail during the economic downturn caused by Covid and reiterated our openness for a dialogue even during the Delhi High Court hearings and this should not to be misconstrued as an offer for settlement,&#8221; said an Amazon spokesperson on Tuesday. Both Future Group and Amazon have been litigating for a year after Future Group signed a deal to sell its entire businesses [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-799060","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799060"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799060\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}