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New Delhi (ILNS): The Delhi High Court has sought a response from Amazon on the plea made by the Kishore Biyani-led Future Retail Ltd. (FRL) not to interfere in the Reliance deal.
Future Retail has alleged that the company in the e-commerce sector was allegedly interfering in the deal worth Rs 24,713 crore based on an interim order by the International Tribunal of Singapore.
Justice Mukta Gupta on the petition of FRL, has summoned Amazon, Future Coupons Pvt. (FCPL) and Reliance Retail Ltd. and asked them give written replies within 30 days.
The court also said that Amazon has raised questions on the basis of this lawsuit. This matter will be kept open. The court gave this order after hearing the arguments of FRL, Reliance and Amazon during the day-long trial.
Singapore’s International Arbitration Centre (SIAC), in an interim order passed on October 25, prohibited FRL’s sale of its assets. Amazon then wrote to the Securities and Exchange Board of India (SEBI), the stock exchanges and the Competition Commission of India (CCI), seeking consideration of the Singapore arbitration’s interim order.
Amazon said that it is a binding order. The FRL has appealed to the High Court to stop the American e-commerce company from writing letters to SEBI, CCI and other regulators regarding the SIAC order. It said it would interfere with its agreement with Reliance Industries.
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FRS counsel Harish Salve told the court that his client is not challenging the Emergency Arbitration (EA) decision under the AIAC rules as it is not recognized under Indian laws. He said that there is no concept of EA (Emergency Arbitration) in the Indian Arbitration Act and he only wants Amazon to get Reliance Retail and Reliance Retail & Fashion Ltd. to be prevented from interfering with the Rs 24,713 crore deal.