Future-Reliance Deal: Supreme Court Issues Notice on Amazon’s Plea on Court Order to Maintain Status Quo

The apex court said the proceedings before the National Company Law Tribunal will go on.

By Press Trust of India | Updated: 22 February 2021 12:07 IST

Future-Reliance Deal: Supreme Court Issues Notice on Amazon’s Plea on Court Order to Maintain Status Quo

Last month, Amazon had approached the Delhi High Court seeking enforcement of the interim order of the EA

Highlights

A bench comprising Justices R F Nariman and B R Gavai issued notices
The proceedings before the National Company Law Tribunal will go on
The bench says reply to the appeal of Amazon be filed in three weeks

The Supreme Court on Monday sought responses from Future Retail and others on Amazon's plea against the Delhi High Court direction to maintain status quo on the Future-Reliance deal.

A bench comprising Justices R F Nariman and B R Gavai issued notices to Future Retail, Chairperson Kishore Biyani and others and sought their replies.

The apex court said the proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on amalgamation of Future Retail with Reliance.

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While issuing notice distinct to Future Retail and others, the bench says that reply to the appeal of Amazon be filed in three weeks and rejoinder after two weeks thereafter and the Amazon's appeal will be listed for hearing after five weeks.

Last month, Amazon had approached the Delhi High Court seeking enforcement of the interim order of the Emergency Arbitrator (EA) at the Singapore International Arbitration Centre (SIAC) that had restrained Future Retail from going ahead with the deal with Reliance.

Amazon Said to Appeal to Supreme Court in Future-Reliance Deal Dispute

In the interim order on February 8, the division bench said it was staying the single judge order as firstly, Future Retail was not a party to the share subscription agreement (SSA) between Amazon and Future Coupons and the US e-commerce giant was not a party to the deal between Future Retail and Reliance Retail.

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