The shares of Reliance industries limited (RIL) has fallen over 3% after the leakage of news about the arbitrator putting an interim stay on the Future-RIL deal on Amazon complaint. An order was passed earlier by the emergency arbitrator in the arbitration proceedings invoked by Amazon under the shareholders’ agreement.

The former Attorney-General of Singapore, V.K. Rajah is the arbitrator looking in the dispute between Amazon and Future group and has put an interim stay on the Future-RIL deal of ₹25,000-crore. In his order granting temporary relief for Amazon, he spoke that it was prudent for an interim stay in this deal as it was disputed. It is just, in the circumstance, to award temporary relief to the claimant to restrain and injunct the respondents from taking any further steps in connection with the disputed transaction.

Earlier this month, Amazon sought intervention in the Future-RIL deal. Amazon claimed that the ₹25,000-crore deal between Future Group and Reliance Retail Ventures Limited (RRVL) violated multiple rules of the 2019 agreement, and was against the interest of Future Retail's shareholders.