New Delhi: Considering some of the findings of Competition Commission of India ,CCI) Antonym heroineThe Delhi High Court on Wednesday stayed the Amazon-Future arbitration before the Singapore Tribunal.
A division bench of Chief Justice DN Patel and Justice Jyoti Singh Quoting certain paragraphs in the CCI order on “suppression of material facts” by Amazon, underlined that there is a prima facie case in favor of Future Retail (FRL) and future coupons (fcpl) and if the stay is not allowed, it will cause irreparable harm to them. The HC observed that the balance of convenience is also in favor of the appellants and stayed the order passed by the single judge.
Arbitration underway before a three-member arbitral tribunal future group24,500 crore deal Reliance,
The single judge had dismissed Future Group’s plea, seeking a direction to the arbitration tribunal, ruling on Amazon’s objections to the earlier deal with Reliance, to adjourn the arbitration proceedings before proceeding further. it was done. To decide on his application for dismissal. Listing the matter for further hearing on February 1, the bench said, “We stay the further proceedings of the arbitral tribunal till the next date of hearing and we also stay the order of January 4 of the single judge till the next hearing.” Huh. ,
High Court also issued notice Amazon.com NV Investment Holdings LLC On appeals filed by FRL and FCPL challenging the order of the Single Judge.
Amazon and Future Group have been locked in a bitter legal tussle after the US e-commerce giant was dragged to arbitration at the Singapore International Arbitration Center (SIAC) in October 2020. Amazon argued that FRL violated their contract by entering into a deal. for sale of your property to Reliance Retail Based on sales of Rs 24,500 crore.
A division bench of Chief Justice DN Patel and Justice Jyoti Singh Quoting certain paragraphs in the CCI order on “suppression of material facts” by Amazon, underlined that there is a prima facie case in favor of Future Retail (FRL) and future coupons (fcpl) and if the stay is not allowed, it will cause irreparable harm to them. The HC observed that the balance of convenience is also in favor of the appellants and stayed the order passed by the single judge.
Arbitration underway before a three-member arbitral tribunal future group24,500 crore deal Reliance,
The single judge had dismissed Future Group’s plea, seeking a direction to the arbitration tribunal, ruling on Amazon’s objections to the earlier deal with Reliance, to adjourn the arbitration proceedings before proceeding further. it was done. To decide on his application for dismissal. Listing the matter for further hearing on February 1, the bench said, “We stay the further proceedings of the arbitral tribunal till the next date of hearing and we also stay the order of January 4 of the single judge till the next hearing.” Huh. ,
High Court also issued notice Amazon.com NV Investment Holdings LLC On appeals filed by FRL and FCPL challenging the order of the Single Judge.
Amazon and Future Group have been locked in a bitter legal tussle after the US e-commerce giant was dragged to arbitration at the Singapore International Arbitration Center (SIAC) in October 2020. Amazon argued that FRL violated their contract by entering into a deal. for sale of your property to Reliance Retail Based on sales of Rs 24,500 crore.
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