Delhi High Court Seeks Future Retail’s Stand On Amazon Plea To Set Aside Court’s Observations Against It
The Hight Court bench issued notice to Future Retail, Reliance Retail and the Biyanis seeking their stand on the plea by Amazon.
The Delhi High Court Wednesday sought response of Kishore Biyani-led Future Retail Ltd. on Amazon's plea challenging the prima facie observations by a single judge that the U.S. e-commerce giant's attempt to control the Indian entity was violative of FEMA and FDI rules.
A bench of Chief Justice DN Patel and Justice Jyoti Singh issued notice to Future Retail, Reliance Retail and the Biyanis seeking their stand on the plea by Amazon against some of the observations by the single judge in a Dec. 21, 2020 interim order.
Amazon, in its appeal, has sought setting aside the observations as they have a bearing on its case in arbitration proceedings that were initiated before the Singapore International Arbitration Centre.
It has contended that the observations are inconsistent with the findings in the SIAC emergency arbitral order of Oct. 25, 2020 against FRL's asset sale under a Rs 24,713 crore deal with Reliance Retail.
It has contended in its appeal that the observations in the Dec. 21, 2020 order "effectively resulted in allowing FRL to collaterally bypass the EA order".