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Amazon-Future deal: Supreme Court stays proceedings at Delhi High Court

Amazon approached the Apex Court against the order allowing Kishore Biyani to go ahead with the sale deal with Reliance Industries.

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ILNS: The Supreme Court on Monday stayed further proceedings before the single judge and divisional bench in Amazon-Reliance-Future (retails) cases until the apex court hears the matter. 

A three-judge bench of Justices Rohinton Fali Nariman, B.R. Gavai and Hrishikesh Roy posted the matter for final disposal on May 4 in an appeal filed by Amazon against the Delhi High Court division bench order which had stayed the order of the single judge directing a status quo on the Future-Reliance deal.

As requested from the counsel for the petitioner, the apex court directed the counsel for different investors (other parties to the suit) and counsel for respondents to file their pleadings and counters respectively within a week and Rejoinder be filed within 1 week after that.

Amazon approached the Apex Court against the order allowing Kishore Biyani to go ahead with the sale deal with Reliance Industries.

Amazon’s plea in the Supreme Court stated, “The group had earlier unequivocally stated that they will continue to take steps to complete the impugned transaction. The greater the progress made towards the completion of the impugned transaction, the harder it will be to unravel it. Over time, the interests of additional third parties may also become entwined with the impugned transaction and be subsequently compromised. Further, irreparable harm will be caused to the petitioner.”

As per earlier details in this case, a division bench of the High Court presided by Chief Justice D.N. Patel and Justice Jyoti Singh observed that since Future Retail Limited (FRL) is not a party to Arbitration Agreement, prima facie, group of companies doctrine can’t be invoked.

The division bench had also stated that the observations made by it are only prima facie and the single judge shall not be influenced by it while passing its order.

The order was passed while the High Court was hearing an appeal filed by Future against an order of the single judge order directing it to maintain status quo on its Rs 24,713-crore deal with Reliance that has been earlier objected by Amazon.

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