The arguments remained inconclusive and will continue on February 8. (File)
New Delhi:
US e-commerce giant Amazon on Friday urged the Delhi High Court to declare that the Emergency Arbitrator (EA) award by the Singapore International Arbitration Centre (SIAC) putting on hold Rs 24,713 crore deal between Future Retail Ltd s (FRL) and Reliance Retail was akin to an order of court and enforceable like any other judicial direction.
The submission was made by Amazon before a bench of Chief Justice DN Patel and Justice Jyoti Singh during the hearing of FRL s plea challenging a single judge interim direction to maintain status quo regarding the deal.
Amazon Opposing Deal As Reliance Is Competitor: Future Retail To Delhi HC moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Amazon Opposing Deal As Reliance Is Competitor: Future Retail To High Court Amazon Opposing Deal As Reliance Is Competitor: Future Retail To High Court Amazon has also contended that the appeal, by FRL against the February 2 order of the single judge, was not maintainable.
In August, Future had reached an agreement to sell its retail, wholesale, logistics to Reliance
New Delhi:
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi High Court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL.
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi High Court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it s more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
Future Retail Moves HC Against Order to Maintain Status Quo on Deal with Reliance
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Kishore Biyani-led Future Retail Ltd (FRL) moved the Delhi High Court on Wednesday against its single judge order directing the company to maintain status quo on its Rs 24,713 crore deal with Reliance Retail, which has been objected to by US-based e-commerce giant Amazon. FRL s appeal was mentioned before a Joint Registrar of the high court who allowed it to be listed for hearing on Thursday, a lawyer associated with the case said. Justice J R Midha on Tuesday said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon. Respondents (FRL) and other respondents are directed to maintain status quo as on today at 4:49 PM till pronouncement of the reserved order, the judge had said.