Amazon–Future Group dispute settled; Delhi High Court closes challenge to arbitral award

The Delhi High Court on April 28 disposed of petitions filed by Future Group entities challenging an arbitral award in their dispute with Amazon LLC, after noting that the parties had reached a settlement..Justice Harish Vaidyanathan Shankar recorded, "Learned counsel appearing on behalf of the parties are ad idem that the disputes between the parties stand resolved and the settlement has been formally reduced into a Settlement Agreement dated 13.03.2026.".The order marks the culmination of proceedings that were earlier being heard by Justice Jasmeet Singh, before whom the parties had indicated that they were exploring settlement following the Singapore International Arbitration Centre (SIAC) award directing Future Group to pay damages to Amazon..In June 2025, a three-member SIAC tribunal had awarded ₹23.7 crore in damages to Amazon. The tribunal also directed payment of approximately ₹77 crore towards legal costs and about ₹6 crore towards arbitration fees.Amazon had sought ₹1,436 crore in damages, corresponding to its 2019 investment in Future Coupons Private Limited (FCPL). However, the tribunal granted only a fraction of the claim, while allowing a significant portion of the legal costs incurred in the arbitration proceedings.The tribunal found that Future Group had breached contractual obligations under its 2019 agreements with Amazon by proceeding with a transaction with Reliance Industries Limited in 2020, in violation of restrictive covenants. These covenants barred dealings with certain “restricted persons,” including Reliance.Amazon’s 2019 investment of ₹1,431 crore had secured a 49% stake in FCPL, structured to give it indirect rights in Future Retail Limited, which operated the Big Bazaar retail chain. The structure was adopted due to foreign investment restrictions in multi-brand retail..The dispute arose in August 2020 when Future Group, facing mounting debt and pandemic-related losses, announced a ₹24,713 crore deal to sell its retail and allied businesses to Reliance. Amazon objected, triggering arbitration before SIAC and initiating a multi-forum legal battle across Indian courts and regulatory bodies.With the settlement now recorded and the challenge petitions withdrawn, the High Court has formally brought an end to this phase of the long-running Amazon–Future dispute..Future Coupons was represented by Advocates Pranjit Bhattacharya, Salonee Shukla and Shalini Singh.Ashni Biyani was represented by Advocate Srishti Juneja..Amazon was represented by Advocates Anand Pathak and Vijay Purohit from P&A Law Offices. Advocates VP Singh, Abhijnan Jha and Chetan Chawla from AZB & Partners also represented the company, .Advocates Rajesh, Dhrupad Vaghani, Md Arsalan Ahmed, Yashwardhan Aggarwal Ashwath and Ali Abbas Masoodi appeared for other respondents..[Read Order]