Thursday, April 18, 2024

Supreme Court directs to Amazon and Future group to file a joint memorandum

The Supreme Court today ordered both the Amazon and Future Group to file a joint memorandum by April 5, after both agreed to appear before the Singapore International Arbitration Centre (SIAC) arbitral tribunal.

The Apex Court asked the SIAC to expedite the proceedings as the matter has been prolonged for longer than expected period.

The three-Judge Bench, comprising of Justice of India (CJI) Nuthalapati Venkata Ramana, said the court will not close the SIL( Special Leave Petition) filed in the Delhi High Court’s January 5 order by Amazon challenging to stay the arbitration proceedings at SIAC.

The Bench has alsoinformed both the parties-Amazon and Future Group to inform the Apex Court by April 6 regarding the Delhi High Court hearing scheduled for April 5.

An enforcement petition has been filed against the company by Amazon at the Delhi High Court in relation to an October 21, 2021 SIAC arbitral tribunal order.

Senior Counsel Gopal Subramaniam,who is representing Amazon,informed the Supreme Court that Amazon has made a prayer for the stay on arbitration proceedings to be vacated.

It further mentioned that “If the SIAC arbitration proceedings have to resume, there has to be some protective order.”

However, the Single-Judge Bench of Delhi High Court denied hearing the enforcement petitions and priority was being given to interim relief at the Supreme Court, added the Senior Counsel.

Meanwhile, the Supreme Court also allowed the Bank of India to withdraw its intervention petition as the Senior Counsel representing the bank said the lender was pursuing other remedies, without elaborating further.


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