New Delhi: Impressed by Reliance’s swift takeover of Future’s backdoor retail outlets, Amazon on Wednesday urged the Supreme Court to put a stay on Reliance’s “humor” with disputed properties, which have been the center of multi-layered litigation, including international arbitration. point is.
Senior advocates Gopal Subramaniam and Ranjit Kumar, appearing for Amazon, submitted that the arbitral tribunal had restrained Kishor Biyani’s Future Group from proceeding with the agreement to sell its retail stores to Reliance for about Rs 25,000 crore, but the opposing side – Biyani Group And Reliance – the order of the tribunal has received less attention.
Amazon was not keen on the suggestion of a bench led by CJI NV Ramana that the warring parties could approach an arbitral tribunal and resume proceedings on the condition that the tribunal would first decide on the application of Future Coupons to quash the proceedings. Will do
Coupon’s argument is that since the Competition Commission revoked its earlier approval for Amazon’s Rs 1,473 crore investment in Future Coupons, on the basis of which the multinational had sought to stall the Future Retail-Reliance plan, The arbitration proceedings have become redundant. ,
find both Future Retail and Coupons Excited about CJI Raman’s suggestion, Subramaniam said, “The tribunal passed an interim order on October 5, 2020 restraining Future Retail from demerging its retail stores. Despite this and the Delhi High Court Despite litigation before the Court and the Supreme Court, Reliance has occupied more than 80% of its retail stores in overnight operation.”
“If people continue to tinker with property despite all these proceedings, where does Amazon end up? What will it get when the disputed asset disappears in the middle of litigation. This is an exceptional case. Defend isolation,” she said.
Senior advocates Harish Salve and Mukul Rohatgi, appearing for Future Group companies, submitted that Amazon has already approached the Delhi High Court seeking an interim order to stay the transfer of properties, though the properties are still with Future Retail. and no transfer has taken place. “Amazon cannot seek the same relief from HC, SC and Tribunal at the same time,” Salve said. Taking note of Amazon’s reluctance to move before the tribunal seeking interim protection, the CJI-led bench said it would hear all the parties on the interim relief on March 23.
Senior advocates Gopal Subramaniam and Ranjit Kumar, appearing for Amazon, submitted that the arbitral tribunal had restrained Kishor Biyani’s Future Group from proceeding with the agreement to sell its retail stores to Reliance for about Rs 25,000 crore, but the opposing side – Biyani Group And Reliance – the order of the tribunal has received less attention.
Amazon was not keen on the suggestion of a bench led by CJI NV Ramana that the warring parties could approach an arbitral tribunal and resume proceedings on the condition that the tribunal would first decide on the application of Future Coupons to quash the proceedings. Will do
Coupon’s argument is that since the Competition Commission revoked its earlier approval for Amazon’s Rs 1,473 crore investment in Future Coupons, on the basis of which the multinational had sought to stall the Future Retail-Reliance plan, The arbitration proceedings have become redundant. ,
find both Future Retail and Coupons Excited about CJI Raman’s suggestion, Subramaniam said, “The tribunal passed an interim order on October 5, 2020 restraining Future Retail from demerging its retail stores. Despite this and the Delhi High Court Despite litigation before the Court and the Supreme Court, Reliance has occupied more than 80% of its retail stores in overnight operation.”
“If people continue to tinker with property despite all these proceedings, where does Amazon end up? What will it get when the disputed asset disappears in the middle of litigation. This is an exceptional case. Defend isolation,” she said.
Senior advocates Harish Salve and Mukul Rohatgi, appearing for Future Group companies, submitted that Amazon has already approached the Delhi High Court seeking an interim order to stay the transfer of properties, though the properties are still with Future Retail. and no transfer has taken place. “Amazon cannot seek the same relief from HC, SC and Tribunal at the same time,” Salve said. Taking note of Amazon’s reluctance to move before the tribunal seeking interim protection, the CJI-led bench said it would hear all the parties on the interim relief on March 23.