India, June 28 -- In the latest twist in the years-long Amazon-Future Group battle, the Singapore International Arbitration Centre (SIAC) has reportedly awarded INR 23.7 Cr in damages to the ecommerce major and INR 77 Cr for legal costs.

As per Bar and Bench, SIAC ruled that the Kishore Biyani-led retailer breached its existing contractual obligations towards Amazon when the Future Group entered into an agreement with Reliance.

For context, Reliance Retail signed a deal in 2020 to acquire Future Retail Ltd's (FRL) logistics, retail and warehousing businesses for INR 24,713 Cr.

The tribunal also reportedly observed that the resolution passed by FRL's board to approve the Reliance deal effectively amounted to a breach of the agreement wi...