SC seeks reply from Future Retail Ltd, others on Amazon's plea against HC's 'status-quo' order

22-02-2021 14:27:15
By : Twinkle Singh

The Supreme Court on Monday sought reply from Future Retail Ltd, Chairperson Kishore Biyani and others on Amazon’s plea against the Delhi High Court direction to maintain the status quo on the Future-Reliance deal.

A bench comprising Justices RF Nariman and BR Gavai said he proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on an amalgamation of FRL with Reliance.

"Reply to the appeal of Amazon be filed in three weeks and rejoinder after two weeks thereafter and the Amazon’s appeal will be listed for hearing after five weeks." the apex court said.

Last month, Amazon had approached the Delhi High Court seeking enforcement of the interim order of the Emergency Arbitrator (EA) at the Singapore International Arbitration Centre (SIAC) that had restrained FRL from going ahead with the deal with Reliance.

In the interim order on February 8, the division bench said it was staying the single judge order as firstly, FRL was not a party to the share subscription agreement (SSA) between Amazon and Future Coupons Pvt Ltd (FCPL) and the US e-commerce giant was not a party to the deal between FRL and Reliance Retail.


Note : Your comments will be first reviewed by our moderators and then will be available to public.

Get it on Google Play