E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713-crore Future-RIL deal.

It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single-member bench, according to sources.

On December 21, a single-member bench of the Delhi HC had rejected Future Group’s plea to restrain Amazon from writing to regulatory authorities about the SIAC (Singapore International Arbitration Centre) arbitral order but gave a go-ahead to the regulators to decide over the deal.

The court had also made several observations indicating that Amazon’s attempt to control Future Retail through a conflation of agreements Amazon has with an unlisted unit of the Indian company will be violative of the Fema FDI rules.

Emails sent to Amazon and Future Group seeking response on these matters did not elicit a response.
In its letter dated January 5, Amazon informed Sebi that the “Singapore International Arbitration Centre (SIAC) has constituted the arbitral tribunal in the arbitration proceedings initiated by Amazon against inter alia FRL, Kishore Biyani and Rakesh Biyani”.

Amazon also requested Sebi to suspend a “review of the impugned transaction as well as the scheme involving the impugned transaction, and not granting any no-objection” for the Future-RIL deal.

The letter also urged the market regulator to direct the Indian stock exchanges not to issue any no-objection/approval letter to Future Retail Ltd (FRL).

A three-member tribunal consisting Singaporean barrister Michael Hwang has been formed at SIAC. The other two members of the tribunal are Albert van den Berg and Jan Paulsson.