Amazon, Future Coupons Reach ₹11 Cr Settlement After Multi-Year Battle

by · Inc42

SUMMARY

  • The final settlement reached on March 13 amounts to just over 10% of the total amount of ₹105 Cr awarded by the Singapore International Arbitration Tribunal (SIAC)
  • Amazon had originally sought ₹1,436 Cr in damages from the Kishore Biyani-led Future Group, which was equal to its investment in Future Group in 2019, when it bought a 49% stake in Future Coupons
  • Future Group announced a deal to sell its retail and allied businesses to Reliance Retail for ₹24,713 Cr as a bailout from pandemic-induced debt and mounting losses in its retail businesses, which Amazon objected