Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums. The company also said that Future Retail Ltd is not a party to the agreement under which Amazon has invoked arbitration proceedings.
Meanwhile, RIL said it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay. The Reliance-Future Retail deal has been done under proper legal advice and the rights and obligations are fully enforceable under Indian Law, RIL said in an exchange filing.