New Delhi: Amazon.com Inc.’s Indian unit petitioned the country’s Supreme Court against a halt on an arbitration case against Future Retail Ltd.’s asset sale...
Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at Singapore International Arbitration Centre last year.
Amazon has sought in the Supreme Court that Singapore’s Emergency Arbitrator award that restrained Future Retail from going ahead with the merger was valid & enforceable.
Amazon said the Singapore EA award was enforceable and the single-judge bench of the Delhi HC rightly gave an interim order in its favour granting a stay on the ongoing amalgamation.
A division bench of Chief Justice D N Patel and Justice Jasmeet Singh also issued notice to Amazon on Future Group's appeal challenging the 18 March judgment on the deal.
HC bench said statutory authorities like National Company Law Tribunal, CCI & SEBI can't be restrained from proceeding in accordance with law with regard to the deal.
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