Amazon Awarded ₹23.7 Crore in Damages by Singapore Arbitration Body in Dispute with Future Group

Amazon has secured ₹23.7 crore in damages from the Singapore International Arbitration Centre (SIAC) in a long-standing legal battle against Kishore Biyani’s Future Group. This decision marks a significant moment in the high-profile dispute that began after Future Group struck a deal with Reliance Retail, allegedly breaching contractual obligations with Amazon.

According to a report by Bar and Bench, the SIAC found that Future Group violated the terms of its agreement with Amazon by proceeding with a sale to Reliance — a move that contravened a pre-existing arrangement between Amazon and Future Coupons Private Limited (FCPL).

Originally, Amazon had sought ₹1,436 crore in damages — equivalent to its investment in FCPL. While the tribunal did not grant the full amount, it acknowledged the breach and awarded partial compensation along with a portion of the legal costs incurred.

What Amazon Gets

The tribunal awarded ₹23.7 crore as damages and an additional ₹77 crore towards legal expenses. Amazon was also granted ₹6 crore for arbitration fees. This is lower than the ₹125 crore it claims to have spent in total legal proceedings, but still represents a significant acknowledgement of its claims.

However, the SIAC declined to reimburse Amazon for legal expenses linked to its litigation in Indian courts and tribunals, limiting the compensation to arbitration-related costs.

The arbitration panel consisted of Prof Albert Jan van den Berg, Prof Jan Paulsson, and Senior Counsel Michael Hwang.

Background of the Dispute

The conflict began in August 2020 when Future Group, reeling under debt and mounting losses, announced a ₹24,713 crore deal to sell its retail, logistics, and wholesale businesses to Reliance Retail. Amazon, having invested ₹1,400 crore in FCPL — which holds a stake in Future Retail — opposed the deal. It claimed that its contract prevented Future Group from selling retail assets to competitors like Reliance.

This sparked a prolonged legal tussle involving arbitration in Singapore and several cases in Indian courts. At the heart of the dispute was Amazon's strategic position in India’s $900 billion retail sector, which pits it against domestic giant Reliance Industries.

While the SIAC decision may not match Amazon’s original claim in value, it reinforces the company’s legal argument and adds weight to its position in future regulatory and business decisions concerning its operations in India.