Amazon moves SC against Future-Reliance Retail deal

New Delhi, Feb 11 (SocialNews.XYZ) E-commerce giant Amazon has moved the Supreme Court against the Future-Reliance Retail deal.

On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between Future Retail Ltd and Reliance.

The e-commerce company has challenged this Delhi High Court Division Bench order, which stayed the implementation of the "status quo" on the deal.

The Division Bench of Chief Justice D.N. Patel and Justice Jyoti Singh noted: "There was no reason to seek a status quo order from single-judge bench. Statutory authorities cannot be restrained from proceeding in accordance with law".

The bench also observed that Future Retail Ltd is not a party to the Arbitration Agreement and hence, the group of companies doctrine cannot be invoked.

"Observations are only prima facie. Single judge not to be influenced," the High Court had noted. Earlier, Future Retail Ltd had moved the division bench to appeal against the status quo order passed by Justice J.R. Midha.

According to sources, Amazon filed an appeal in the top court after the high court dealt a blow to the US firm by revoking a previous court decision that effectively blocked the deal.

In its plea, Amazon contended that the division bench should have waited for a detailed single-judge order and urged the top court to stay this order.

Amazon had moved the Delhi High Court last month for enforcement of the Emergency Award. It had alleged that Future Group's Kishore Biyani as well as other promoters and directors were "deliberately and maliciously" disobeying the Emergency Award in spite of their participation in the arbitration proceedings.

Source: IANS