Supreme Court to hear Amazon's appeal counter to the Delhi HC's order
Supreme Court to hear Amazon's appeal counter to the Delhi HC's order
Senior Advocate Gopal Subramanium presented the matter before Chief Justice of India (CJI) NV Ramana on behalf of Amazon.
On February 8, the Supreme Court will hear from US tech giant Amazon its appeal of the Delhi High Court order staying the pending arbitration proceedings against Future Group related to the 2019 deal between the two companies.
Amazon filed the matter before Chief Justice of India (CJI) NV Ramana, through Senior Advocate Gopal Subramanium.
"We are here against the division bench of the Delhi High Court injunction regarding the arbitral tribunal proceeding," he said. As a result, the arbitral tribunal proceedings are not commencing.
The CJI replied, "List next Tuesday."
Recently, Amazon has been involved in several legal disputes over its acquisition of a 49 percent stake in Future Coupons Private Limited (FCPL).
As part of the 2019 deal between Amazon and Future Group, an arbitral tribunal in Singapore is hearing Amazon's case against the latter. At the time the tribunal heard this case, it had issued an interim order stopping Reliance Industries from purchasing Future Retail's assets.
According to the CCI, the deal was suspended in Jan 2022 because Amazon failed to notify it about certain crucial details of the acquisition in accordance with Section 6(2) of the Competition Act, 2002. In addition, Amazon has also assessed a penalty of Rs 202 crores.
Following the CCI's order, Future Group filed an application with the Delhi High Court seeking a stay of the arbitration proceedings before the Singapore tribunal.
An individual judge dismissed the appeal, but the Singapore tribunal stayed the proceedings. In addition to citing the CCI order as a reason for doing so, the Bench stated that the Future Group would suffer irreparable loss if the proceedings did not stay.
On February 1, the Division Bench will hear the case again. Amazon has also been notified.
Amazon then filed a petition against the interim order of the Delhi High Court with the Supreme Court.
