Future-RIL deal: Amazon moves Delhi HC’s division bench for relief


The matter will come up for hearing on Wednesday.

Amazon on Monday urged the division bench of the Delhi High Court to set aside “certain prima facie observations” in the single bench’s December 21 order that allowed Future Group to go ahead with its deal with Reliance Retail in accordance with Indian laws.

The matter will come up for hearing on Wednesday.

The single judge bench, while upholding the interim award by Singapore International Arbitration Centre in favour of Amazon as legal, had also declared the Future-RIL deal to be legal and left the final decision to the regulatory authorities before whom the deal is pending for final approval.

“Having held that the Emergency Arbitrator’s order was not ‘coram non judice’ (without jurisdiction), the single judge could not have, in the same order, render any observations inconsistent with the express premises of the Emergency Arbitrator’s interim order,” Amazon said in its appeal.

“The prima facie observations contained in the impugned order effectively resulted in allowing Future Retail to collaterally bypass the EA order. FRL has been relying on these prima facie observations to misconstrue the true import of the impugned order in an effort to mislead regulators to grant approval to the potential transaction, which has constrained the Appellant to file the present Appeal to quash and set aside the prime facie observations as set out in detail in the appeal,” the appeal further stated.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.




Comments (0)
Add Comment