Friction #17: A fight with no clear finish and clout versus reform

The Morning

Context

Jayshree P. Upadhyay

Mumbai

22 March 2021

This round goes to Amazon

Since September last year, when Reliance Industries announced that it was acquiring the retail and wholesale business of Kishore Biyani’s debt-ridden Future Group for $3.4 billion, it has been one heck of a rollercoaster ride. The latest episode in the saga saw Amazon notch up a win, with the Delhi High Court on 18 March upholding the Singapore arbitrator’s emergency award, once again hitting the proverbial pause button on the deal. We’ll come to that in a bit.

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