Future Coupons, a promoter group entity of former Big Bazaar operator Future Retail, has reached a settlement with Amazon over a dispute that had stretched for over half a decade, agreeing to pay the ecommerce major ₹11 Cr in damages.

The final settlement reached on March 13 amounts to just over 10% of the total amount of ₹105 Cr awarded by the Singapore International Arbitration Tribunal (SIAC), ET reported, citing sources. Following this, the Delhi High Court on April 28 disposed of petitions filed by the Future Group challenging the original award granted to Amazon, noting that both parties had reached a settlement.

Justice Harish Vaidyanathan Shankar of the HC noted that the matter “stands resolved and the settlement has been formally reduced into a Settlement Agreement of March 13”.

In June 2025, a tribunal of SIAC had directed Future Group to pay ₹23.7 Cr in damages to Amazon, on top of awarding ₹77 Cr in legal costs and about ₹6 Cr towards arbitration fees.

Following this, the parties approached the Delhi HC, with Future Group disputing the SIAC’s tribunal’s findings. In November, both parties informed the HC that they were exploring a settlement in the matter.

Amazon had originally sought ₹1,436 Cr in damages from the Kishore Biyani-led Future Group, which was equal to its investment in Future Group in 2019, when it bought a 49% stake in Future Coupons, which held a 9.82% stake in Future Retail, that gave it indirect rights in Future Group.

Later, in 2020, Future Group announced a deal to sell its retail and allied businesses to Reliance Retail for ₹24,713 Cr as a bailout from pandemic-induced debt and mounting losses in its retail businesses.

This was objected to by Amazon, which approached the SIAC, along with multiple Indian courts, to dispute the deal. Singapore’s emergency arbitrator at the time restrained the deal from materialising,

In December 2021, the Competition Commission of India temporarily suspended its approval to Amazon’s investment in the Future Group. As the legal cases piled up, Reliance cancelled the ₹24,713 Cr deal with Future Group in April 2022.

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