Last week, a single judge at a high court in New Delhi restrained Future Group firms from selling their assets. Speedy enforcement of contracts and foreign arbitration rulings are important for overseas investors when assessing the attractiveness of an investment destination, he said.Spokespeople at Reliance Industries, Amazon’s local unit and Future Group weren’t able to comment immediately on the latest ruling. Future Retail’s lawyers have argued in court that the deal is their only chance to avoid bankruptcy and save jobs.The rulings in Amazon’s case come after two big foreign arbitration awards against India. On an appeal by Future, a two-judge panel allowed the deal, saying Future Retail wasn’t a party to the agreement between Amazon and Future Coupons Pvt. “An appeal before the Supreme Court may be inevitable.”— With assistance from P R Sanjai

Source: Economic Times February 09, 2021 07:26 UTC