Amazon’s Reply on Future Retail’s Reliance Deal Interference Plea Sought by Delhi High Court

The court also said that the issue of maintainability of the suit, raised by Amazon, would be kept open.

Share on Facebook Tweet Snapchat Share Reddit Comment
Amazon’s Reply on Future Retail’s Reliance Deal Interference Plea Sought by Delhi High Court

The order was passed after hearing day-long arguments on behalf of Future Retail, Reliance, and Amazon

Highlights
  • SIAC, on October 25, passed an interim order in favour of Amazon
  • Subsequently, Amazon wrote to SEBI, stock exchanges, and CCI
  • Future Retail has urged the high court to restrain Amazon

The Delhi High Court Tuesday sought Amazon's response on a plea by Kishore Biyani led Future Retail alleging that the e-commerce major was interfering in its deal with Reliance Retail on the basis of an interim order by a Singapore arbitrator.

Justice Mukta Gupta issued summons to Amazon, Future Coupons, and Reliance Retail on the Future Retail suit and asked them to file their written statements within 30 days.

The court also said that the issue of maintainability of the suit, raised by Amazon, would be kept open.

The order was passed after hearing day-long arguments on behalf of Future Retail, Future Coupons, Reliance, and part arguments by Amazon.

The arguments on behalf of Amazon will continue on Wednesday.

The Singapore International Arbitration Centre (SIAC), on October 25, passed an interim order in favour of Amazon barring Future Retail from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.

Subsequently, Amazon wrote to market regulator SEBI, stock exchanges, and Competition Commission of India (CCI), urging them to take into consideration the Singapore arbitrator's interim decision as it is a binding order, FRL told the high court.

Future Retail has urged the high court to restrain the US-based e-commerce major from writing to SEBI, CCI and other regulators about SIAC's order, saying it amounts to interfering with the agreement with Reliance.


Which is the best TV under Rs. 25,000? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Pixel 4 Series Users Facing Issue With Face Unlock Preventing Them From Unlocking Their Phones
Mi Wireless Mouse Lite With 1,000DPI Optical Sensor, 2.4GHz Wireless Transmission Launched

Related Stories

 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2020. All rights reserved.
Listen to the latest songs, only on JioSaavn.com