New Delhi, Apr 19 (ILNS) The Supreme Court today stayed further proceedings in the Amazon-Reliance-Future (retails) cases in the Delhi High Court, until the apex court hears the matter.
A three-Judge Bench of Justice Rohinton Fali Nariman, Justice BR Gavai and Justice Hrishikesh Roy posted the matter for final disposal on May 4 in an appeal filed by Amazon against the Delhi High Court Division Bench order, which had stayed the order of the Single Judge, directing a status quo on the Future-Reliance deal.
As requested from the Counsel for the petitioner, the apex court had directed the Counsel for different investors (other parties to the suit) and Counsel of respondents to file their pleadings and counters, respectively within a week and Rejoinder be filed within one week after that.
Amazon has approached the apex court against the order, allowing Kishore Biyani to go ahead with the sale deal with Reliance Industries.
Amazon’s plea in the Supreme Court stated, “The group had earlier unequivocally stated that they will continue to take steps to complete the transaction. The greater the progress made towards the completion of the transaction, the harder it will be to unravel it. Over time, the interests of additional third parties may also become entwined with the transaction and be subsequently compromised. Further, irreparable harm will be caused to the petitioner.”
Earlier, a Division Bench of the High Court presided by Chief Justice DN Patel, and also comprising Justice Jyoti Singh, observed that since Future Retail Limited (FRL) is not a party to the Arbitration Agreement, prima facie, the group of companies doctrine cannot be invoked.
The Bench also stated that the observations made by it were only prima facie and the Single Judge shall not be influenced by it, while passing its order.
The order was passed, while the High Court was hearing an appeal filed by the Future Group against an order of the Single Judge order, directing it to maintain status quo on its Rs 24,713-crore deal with Reliance, which had been earlier objected to by Amazon. ILNS/KR/SNG/RJ