“Once the arbitration tribunal is constituted, as per SIAC rules, the emergency arbitration order gets extended till further modified by the arbitration tribunal,” a person aware of the norm said. The tribunal at SIAC was formed recently and now the final hearing is expected to start on the dispute.
Typically, one of the parties in a dispute approaches the arbitrator for modifying the interim order but it hasn’t happened in the Amazon-Future dispute over the Rs 24,713 crore Reliance deal. “If the final tribunal was also not formed till today, the emergency order would have expired after January 23,” this person added.
For Amazon, it has relied on the SIAC emergency order to write to Indian regulators urging them to consider the same before giving any approval to the Future-Reliance deal. While the SIAC tribunal is expected to start its proceedings, Delhi high court is slated to hear Amazon’s appeal against the initial high court order next month.