<p>India's Future Retail has asked the country's top court to stall a Singapore arbitration panel's decision to freeze a $3.4 billion asset sale after e-commerce giant Amazon had sought to block the deal.</p>.<p>The dispute started when Future Retail, India's second-largest retailer with more than 1,700 stores, agreed last year to sell retail and other operations to India's biggest retail group Reliance Industries.</p>.<p>Amazon has argued that its own deal with one of Future Group's businesses contained clauses prohibiting the Indian entity from selling retail assets to anyone on a "restricted persons" list that included Reliance.</p>.<p>Future Retail, which runs popular Big Bazaar outlets in India, denies having violated any contractual agreements with Amazon.</p>.<p>The long-running dispute has placed two of the world's richest men - Amazon founder Jeff Bezos and Reliance majority owner Mukesh Ambani - at odds and could help to determine whether Amazon can blunt Reliance's dominance of India's huge retail market.</p>.<p>On Monday Future Retail urged the Supreme Court to put the Singapore arbitration panel's decision on hold, citing stress on its business unless the the sale goes through, according to a filing seen by Reuters and which is likely to be heard in the coming days.</p>.<p>As in previous court filings, Future said its bank loans and thousands of jobs remain at risk and a failure to conclude the Reliance deal could push it into liquidation.</p>.<p>The Singapore panel put the Future-Reliance deal on hold last year and in October declined Future Retail's request to revoke that decision. Subsequently, a Delhi court also declined to give Future any immediate relief under Indian law to put the panel's decision on hold.</p>.<p>Amazon did not immediately respond to a request for comment on Monday.</p>.<p>The U.S. company has repeatedly argued that Future Retail must not proceed with the Reliance deal in light of the arbitration panel's decisions.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>India's Future Retail has asked the country's top court to stall a Singapore arbitration panel's decision to freeze a $3.4 billion asset sale after e-commerce giant Amazon had sought to block the deal.</p>.<p>The dispute started when Future Retail, India's second-largest retailer with more than 1,700 stores, agreed last year to sell retail and other operations to India's biggest retail group Reliance Industries.</p>.<p>Amazon has argued that its own deal with one of Future Group's businesses contained clauses prohibiting the Indian entity from selling retail assets to anyone on a "restricted persons" list that included Reliance.</p>.<p>Future Retail, which runs popular Big Bazaar outlets in India, denies having violated any contractual agreements with Amazon.</p>.<p>The long-running dispute has placed two of the world's richest men - Amazon founder Jeff Bezos and Reliance majority owner Mukesh Ambani - at odds and could help to determine whether Amazon can blunt Reliance's dominance of India's huge retail market.</p>.<p>On Monday Future Retail urged the Supreme Court to put the Singapore arbitration panel's decision on hold, citing stress on its business unless the the sale goes through, according to a filing seen by Reuters and which is likely to be heard in the coming days.</p>.<p>As in previous court filings, Future said its bank loans and thousands of jobs remain at risk and a failure to conclude the Reliance deal could push it into liquidation.</p>.<p>The Singapore panel put the Future-Reliance deal on hold last year and in October declined Future Retail's request to revoke that decision. Subsequently, a Delhi court also declined to give Future any immediate relief under Indian law to put the panel's decision on hold.</p>.<p>Amazon did not immediately respond to a request for comment on Monday.</p>.<p>The U.S. company has repeatedly argued that Future Retail must not proceed with the Reliance deal in light of the arbitration panel's decisions.</p>.<p><strong>Check out the latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>