Future Retail Approaches Delhi High Court Against Amazon
Future Retail Ltd. approached the Delhi High Court against the Singapore arbitrator's interim order putting the sale of retail and wholesale business to Reliance Retail Ltd. on hold.
Future Retail filed a suit to seek necessary relief against Amazon.com Inc from interfering in the transaction by misusing the arbitrator’s order, according to the company's statement. The interim order was passed in proceedings initiated by Amazon under an agreement in which Future Retail was not even a party, the company said.
Amazon.com Inc. initiated legal proceedings against Future Group in Singapore alleging that the Rs 27,513-crore deal between Reliance Retail and Future Group violates its contractual rights. The arbitrator put the deal on hold on Oct. 25 in an interim order.
Future Retail had said at the time that the interim order will have to be tested under the provisions of the Indian Arbitration Act in an appropriate forum.
Reliance Retail had said that it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future Group without any delay.
Subsequently, both Future and Amazon filed a caveat application in the Delhi High Court requesting that no order should be passed if any case related to the issue comes in front of the high court. Now, Future Retail has filed a suit in the high court.
The date on which the suit filed by Future Retail will come up for hearing is not known yet.