Reliance Group and Future Retail have publicly stated that they will proceed with their deal "without any delay" even though Amazon obtained an injunction order against it from a Singapore arbitration court on October 25. On Sunday evening, the Reliance Group said its deal to acquire Future Group’s assets is fully enforceable under Indian law and that it will complete the deal “without any delay". On Monday, the Future Retail echoed Reliance Group, stating that it is not party to the agreement under which Amazon has invoked the arbitration proceedings. The deal is governed by Indian law, and would have to be tested under provisions of the Indian Arbitration Act in an appropriate forum, the company said. "The matter raises several fundamental jurisdictional issues which go to the root of the matter,” the company said in a stock exchange filing.…
