Future-Reliance deal: Delhi HC refuses to restrict Amazon from approaching regulators
Delhi High Court passed the order on FRL s petition that argued that Amazon writing to the authorities regarding the emergency arbitrator s award tantamounts to meddling with the Rs 24,713 crore RIL-Future deal
BusinessToday.In | December 29, 2020 | Updated 13:57 IST
The development comes as a blow to Future Retail which has been engaged in a clash with Amazon over the sale of its retail business to Mukesh Ambani-led Reliance Industries Limited (RIL)
The Delhi High Court on Monday, December 21, rejected Kishore Biyani-led Future Retail Ltd s (FRL) plea for an interim injunction restricting Amazon from approaching statutory authorities, SEBI (Securities and Exchange Board of India), CCI (Competition Commission of India), and other regulators, about the arbitral order against its asset sale to Reliance Industries Ltd. (RIL).
Amazon s arbitrary policies to dominate India s retail trade should end: CAIT financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
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CAIT says Amazon s arbitrary policies to dominate India s retail trade should end
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Last Updated: Dec 21, 2020, 08:41 PM IST
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Synopsis
The court rejected Future Retail Ltd s (FRL) plea for an interim injunction to restrain Amazon from writing to Sebi, the Competition Commission and other authorities about the SIAC arbitral order against the proposed Rs 24,713 crore deal with Reliance Retail.
AFP
NEW DELHI: Trader s body CAIT on Monday said Amazon s manipulative, coercive, arbitrary and dictatorial policies to dominate India s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon.
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New Delhi, December 21
Trader’s body CAIT on Monday said Amazon’s “manipulative, coercive, arbitrary and dictatorial policies” to dominate India’s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group’s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon.
The court rejected Future Retail Ltd’s (FRL) plea for an interim injunction to restrain Amazon from writing to Sebi, the Competition Commission and other authorities about the SIAC arbitral order against the proposed Rs 24,713 crore deal with Reliance Retail.
Justice Mukta Gupta said while FRL has made out a prima facie case of interim injunction, the relief cannot be granted as the balance of convenience lies in favour of both FRL and Amazon, and whether any irreparable loss would be caused to either side, has to be determined during trial of the suit or by a competent forum.