Reliance Retail- Future Deal: Setting-up of Emergency Arbitration against Amazon, Delhi HC Declines Plea

Must Read

WhatsApp Emails Delhi HC Judge Asking Her Not To Hear the Plea Challenging New Privacy Policy

The Delhi High Court raised strong objection to an E-mail sent by WhatsApp asking a judge not to hear the plea which challenges its new privacy policy. Justice Pratibha Singh said that the e-mail that was withdrawn later was totally unwarranted as she was anyway going to recuse from hearing the plea which was filed by Rohilla Chaitanya who contends that the new privacy policy of WhatsApp provides 360-degree access to a customer’s virtual activity and is against the fundamental right of privacy.

TRP Scam Case: Bombay HC Extends Protection To Arnab Goswami and Other Employees Till the Next Hearing

On Friday, the Bombay High court extended the protection that was given, to Republic TV’s Editor in Chief Arnab Goswami and other employees of ARG Outlier Media Private Limited till January 29th in the alleged case of Television Rating Point manipulation. A status report was submitted by the police to the division bench of Justices S.S.Shinde and Manish Pitale by the Police on the ongoing case.

Plea Seeks FIR Against Maharashtra Minister Dhananjay Munde in Bombay HC for False Info

A plea has been filed in Bombay High Court seeking an FIR against Maharashtra minister Dhananjay Munde who is undergoing times of trouble due to his extra-marital affair. Recently, an FIR had been lodged against Munde by a woman, accusing him of raping her sister. Munde clarified that he was actually in a relationship with that woman and had two children. He accused the two women of blackmailing him.

Writ Petition for Compensation Accepted by Calcutta High Court 

Introduction The Petitioner Purna Ch. Biswas filed a Writ Petition with the complaint that their claims for a higher quantum...

No Members Could Be Disqualified Without Authorisation by Political Party: Gujarat High Court

Excerpt The dispute application no.7 of 2020 filed by respondent no.2 before designated authority. Thereafter the designated authority order dated...

Delhi High Court Directs Delhi Jal Board To Make Supply of Potable Drinking Water

The High Court of Delhi in the matter of Delhi Sainik Cooperation Housing Ltd. v. Union of India &...

Follow us

On the basis of an interim order which had been passed by the Singapore International Arbitration Centre, Reliance Retail- Future Deal filed a plea in the High Court of the Capital, in order to retrain Amazon in participating/interfering in its future business.

Facts:

Last year, in August, Amazon bought some 49 percent of shares in one of the unlisted firms of Kishore Biyani’s Future Group, Future Coupons Ltd. (FCL), cutting the deal by procuring the Right to Buy into the listed company, Future Retail Ltd., also led by Mr. Kishore Biyani, in a few years, if the government were to undo the bar that has been placed on Foreign Ownership of Multi-Brand Retailers.

Unfortunately, Future Groups’ listed company, Future Retail Ltd. had run into a severe cash crunch after a nationwide lockdown was imposed in an attempt to curb the Covid-19 outbreak. Due to this, the firm cut a deal with Reliance Industries Ltd. (RIL) to sell its assets for some Rs. 24,713 cr.

With respect to this, Amazon took the issue with the Future Group, to SIAC, claiming that the contract signed and agreed upon between the two enterprises restricted transactions of FCL with few companies, including Reliance Retail Ltd. Amazon also wrote to markets regulated by SEBI and Stock Exchanges, urging the two to take into consideration the order which has been passed by the Singapore Arbitrator’s interim judgement that put a halt on the deal which Future Group cut out with the Reliance Retail Ltd. of Rs. 24,713 crores, while reviewing the proposed transaction.

The Future Retail Ltd. registered a plea in the Delhi High Court, looking for seeking relief from the conundrum that Amazon has been causing and from Amazon, from interfering in the deal which the Future Groups have cut out with the Reliance group. In the plea, FRL also claimed that Amazon is misusing the interim order that has been passed by the Singapore Arbitrator.

Judgement:

During the hearing, Delhi High Court, on Monday, declined to offer any relief to the Future Group. Further, the court said that it won’t grant FRL an interim injunction, restraining Amazon from writing to SEBI, CCI, and other authorities about the arbitral order against its asset sale.

The order was passed by Justice Mukta Gupta.


Libertatem.in is now on Telegram. Follow us for regular legal updates and judgement from the court. Follow us on Google News, InstagramLinkedInFacebook & Twitter. You can also contribute blog, articles, story tip, judgment and many more and help us spread awareness for a better society. Submit Your Post Now.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

WhatsApp Emails Delhi HC Judge Asking Her Not To Hear the Plea Challenging New Privacy Policy

The Delhi High Court raised strong objection to an E-mail sent by WhatsApp asking a judge not to hear the plea which challenges its new privacy policy. Justice Pratibha Singh said that the e-mail that was withdrawn later was totally unwarranted as she was anyway going to recuse from hearing the plea which was filed by Rohilla Chaitanya who contends that the new privacy policy of WhatsApp provides 360-degree access to a customer’s virtual activity and is against the fundamental right of privacy.

TRP Scam Case: Bombay HC Extends Protection To Arnab Goswami and Other Employees Till the Next Hearing

On Friday, the Bombay High court extended the protection that was given, to Republic TV’s Editor in Chief Arnab Goswami and other employees of ARG Outlier Media Private Limited till January 29th in the alleged case of Television Rating Point manipulation. A status report was submitted by the police to the division bench of Justices S.S.Shinde and Manish Pitale by the Police on the ongoing case.

Plea Seeks FIR Against Maharashtra Minister Dhananjay Munde in Bombay HC for False Info

A plea has been filed in Bombay High Court seeking an FIR against Maharashtra minister Dhananjay Munde who is undergoing times of trouble due to his extra-marital affair. Recently, an FIR had been lodged against Munde by a woman, accusing him of raping her sister. Munde clarified that he was actually in a relationship with that woman and had two children. He accused the two women of blackmailing him.

Writ Petition for Compensation Accepted by Calcutta High Court 

Introduction The Petitioner Purna Ch. Biswas filed a Writ Petition with the complaint that their claims for a higher quantum of compensation have not yet...

No Members Could Be Disqualified Without Authorisation by Political Party: Gujarat High Court

Excerpt The dispute application no.7 of 2020 filed by respondent no.2 before designated authority. Thereafter the designated authority order dated 28.10.2020 disqualified the petitioner and...

Delhi High Court Directs Delhi Jal Board To Make Supply of Potable Drinking Water

The High Court of Delhi in the matter of Delhi Sainik Cooperation Housing Ltd. v. Union of India & Ors held that right to...

Punjab & Haryana High Court Orders Security To BJP Leader Alleged for Not Supporting Farmers Protest

The Order had come in the form of a Writ Petition filed by Tikshan Sood under Article 226 of the Constitution. The petition before...

Lahore High Court Outlaws Two-Finger Virginity Test

The Lahore High Court in Pakistan has outlawed the use and conduct of virginity tests, namely, the use of the “two-finger” virginity test and...

London Court Rejects Assange’s Extradition – What Happens Now? 

Earlier last week, District Judge Vanessa Baraitser, sitting in the Westminster Magistrates’ Court denied the Government of the U.S.A.'s request to the U.K. to...

Calcutta High Court Decides in Favor of Contractor as He Accidentally Pays an Excessively High Amount

Introduction The present writ petition has been filed for a writ in the nature of mandamus commanding the Respondents to revoke the Petitioner’s offer as...

More Articles Like This

- Advertisement -