Amazon, Future talks on RIL deal dispute have failed, lawyers tell SC
Both Amazon and Future said they would like to resume arbitration proceedings in Singapore that had been put on hold by the Delhi High court.
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Both Amazon and Future said they would like to resume arbitration proceedings in Singapore that had been put on hold by the Delhi High court.
For more than a year, Amazon and Future Group have been in a legal stand-off that has stalled Future's $3.4 billion sale of assets to Reliance Industries.
The bench, on January 11, had reserved the judgement and had said that it wanted to send the case back to the Delhi High Court to render a finding on the enforceability of the SIAC award restraining FRL's sale of assets to Reliance Retail.
In its latest letter on January 19, 2022, Amazon said it has become aware from certain media sources that FRL is proposing to sell its small format stores, comprising the 'Easyday' and 'Heritage Fresh' brands.
The Special Leave Petition was filed on Saturday and is expected to be taken up for hearing this week.