India, May 1 -- 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 Rs.11 Cr in damages.

The final settlement reached on March 13 amounts to just over 10% of the total amount of Rs.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 settle...