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Supreme Court To Speed ​​Up Hearing On Amazon Future Group Appeal: 10 Points


The Supreme Court has agreed to expedite Amazon’s appeal on Future Retail

On Tuesday, the Supreme Court said that it will expedite the hearing on Amazon’s interim appeal seeking preservation of Future Retail Limited’s (FRL) assets in addition to the resumption of arbitration for a merger agreement with Reliance Retail

Let’s read how the Amazon-Future Retail-Reliance tussle has unfolded.

  1. The Supreme Court today said it will list to hear “as early as possible” Amazon’s interim appeal seeking preservation of Future Retail’s assets in addition to resuming arbitration over the merger agreement with Reliance Retail.

  2. A panel led by chief justice NV Ramana, who previously set Amazon’s appeal for a hearing on March 23, told senior counsel Gopal Subramanium, representing the U.S. firm, that one of the judges, Judge Hima Kohli, was not present and therefore the hearing cannot take place on the appointed date.

  3. “I think at that time he (Justice Kohli) might come. He has some problems. I will list them as early as possible, subject to court availability, “the chief justice said.

  4. Mr Subramanium then urged the panel to hear the matter on April 1, 2022.

  5. Earlier, Amazon had arrested the “lost” assets and obtained an interim order from the upper court to ensure the preservation of Future Retail’s assets in addition to resuming arbitration over Future’s merger agreement with Reliance Retail.

  6. The court has taken note of the U.S. firm’s allegations that “applecart is being frustrated” by its competitors and asked the group firm Future, FRL and Future Coupons Limited (FCPL), to answer Amazon’s interim appeal and correct the hearing on March 23rd.

  7. Amazon and Future Group were involved in multi -forum litigation on the issue of Future Retail’s Rs 24,500 crore merger agreement with Reliance Retail after Amazon dragged it to arbitration at the Singapore International Arbitration Center in October 2020.

  8. Amazon has claimed that on March 3, as many as 600 Future Retail stores were taken over by Reliance. The confession was vehemently denied by Future group lawyers on Tuesday.

  9. The Supreme Court was told by Amazon that in addition to requesting a resumption of arbitration proceedings, it wants an order that Future Retail assets be available to it if it wins arbitration because “applecart is upset”.

  10. The court is hearing Amazon’s appeal against the Delhi High Court’s January 5 order, which adjourned arbitration proceedings before an arbitral tribunal in relation to Future Retail’s merger agreement with Reliance Retail.

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