Future Retail-Amazon Case Over Reliance deal To Be Heard At Delhi High Court Today
On Thursday, the Delhi Supreme Court will continue hearing claims from Future Retail Limited (FRL) and Amazon to prevent US e-commerce companies from filing with regulators such as the Indian Competition Commission (CCI). ) Against the dealer's transaction with Reliance's retail store.
The court has been suing lawsuits since last week. Both sides will continue to observe today. On November 12, a bench owned by a single judge of Judge Mukta Gupta ordered all parties to submit written observations. Senior Attorney Harish Salve, who was present at the FRL at the time of the final hearing, said the rights claimed by Amazon far exceeded actual legal rights.
The injunction from the Singapore International Arbitration Center (SIAC) in favor of Amazon is not binding as it has not been decided by the courts of India. “(Amazon) affects the right to save the business. The FRL didn't make a deal, and I can stop (FRL) from showing the world that he needs his permission to save me,” he added.
“Amazon says it doesn't have a deal with Reliance yet. So what is the problem?" This is the transition to Reliance. He has no rights to (Amazon) FRL and tells the court that he cannot be alienated without consent. Your actions are limited to Biyanis. "Salve is suing for referring to Future Group promoter Kishore Biyani." What Amazon is saying is that the FRL does not allow you to get out of the forest without permission. Let it die
Amazon rejected the FRL's objection, claiming that all parties have accepted arbitration in Singapore's courts and that the decision is valid and legal.
“They (FRL) insist that the FRL is not a party to the FCPL transaction. The referee watched it. He notes that all contracts were sent by the same legal counsel. Who is the promoter? It was controlled and operated by Biyanis... Amazon is an investor... the law gives me property rights. Where is the IDE violation for this problem? Asked Gopal Subramanium, a senior lawyer who appeared on Amazon.
The dispute involves Mukesh Ambani's Future to Future of Resh selling retail, wholesale, and storage assets for 24,713 crore. Amazon, which owns an indirect 5% stake in Future Retail, decided to sell it in a Singapore court, claiming Future could not sell the property to RIL's subsidiary Reliance Retail Ventured Ltd due to the investment contract of 2019. I filed an objection. For sale. On October 25, a Singaporean court banned Avenir from selling its assets to RIL.