38.6c New Delhi, India, Monday, May 20, 2024
Business

Amazon moves Supreme Court against Delhi HC division bench order staying arbitration with Future Group before Singapore tribunal (SIAC)

By Ritansha      10 January, 2022 07:31 PM      0 Comments
Amazon moves Supreme Court against Delhi HC division bench order staying arbitration with Future Group before Singapore tribunal (SIAC)

On 10th January, Amazon has moved the Supreme Court challenging a Delhi High Court ruling that suspended the ongoing arbitration proceeding against Future Group concerning the 2019 contract arrangement between the two companies. According to persons acquainted with the issue, the Special Leave Petition (SLP) was filed on Saturday and is anticipated to be heard this week.

In the recent past, Amazon's acquisition of a 49 percent share in Future Coupons Private Limited (FCPL) has been the subject of several court battles. Amazon's complaint against Future Group concerning the 2019 purchase is now being heard by an arbitration panel in Singapore. The tribunal had issued an interim order halting the sale of Future Retail's assets to Reliance Industries. The CCI had postponed the deal's clearance last month, claiming that Amazon had failed to notify it of some key elements of the transaction, as required by Section 6(2) of the Competition Act, 2002. As a result, Amazon was also hit with a Rs. 202-crore penalty. 

The Future Group petitioned the Delhi High Court for a suspension of the arbitration proceedings before the Singapore tribunal, citing the CCI judgement. The Division Bench delayed the proceedings before the Singapore tribunal, notwithstanding the fact that the pleas were dismissed by a single judge. The Bench had cited the CCI ruling as one of the reasons for doing so, as well as the fact that the Future Group would suffer irreparable harm if the proceedings were not stopped. The Division Bench had also served notice to Amazon and set a hearing date on February 1, 2022.



Share this article:



Leave a feedback about this
TRENDING NEWS

supreme-court-refuses-to-entertain-plea-for-stay-on-new-criminal-laws
Trending Judiciary
Supreme Court refuses to entertain plea for stay on new criminal laws

SC refuses plea to stay new criminal laws. Court deems the plea casual, noting laws aren't yet implemented. Petitioner withdraws. Laws effective from July 1, 2024.

20 May, 2024 12:58 PM
scba-election-result-2024-know-the-newly-elected-members
Trending Know The Law
SCBA Election Result 2024, Know the newly elected members

SCBA Election Result 2024: Senior Advocate Kapil Sibal elected President. Know the newly elected members and key office bearers leading the Supreme Court Bar Association.

20 May, 2024 03:03 PM

TOP STORIES

sc-issues-notice-to-ed-on-hemant-sorens-plea-against-arrest-in-land-scam
Trending Judiciary
SC Issues Notice to ED on Hemant Soren's Plea Against Arrest in Land Scam

Supreme Court issues notice to ED on Hemant Soren's plea against arrest in a land scam case, sets hearing for May 17 after senior advocate Kapil Sibal's request for an earlier date.

14 May, 2024 11:24 AM
3800-metric-tonnes-of-solid-wastes-going-untreated-everyday-in-delhi-sc-records-concern
Trending Environment
3,800 metric tonnes of solid wastes going untreated everyday in Delhi SC records concern

The Supreme Court expressed concern as 3,800 metric tonnes of solid waste in Delhi go untreated daily. The issue must be addressed promptly beyond political lines.

14 May, 2024 11:30 AM
plea-filed-in-sc-for-review-of-april-26-evm-vvpat-verdict
Trending Judiciary
Plea filed in SC for review of April 26 EVM VVPAT verdict

A plea has been filed in the Supreme Court to review its April 26 verdict on EVM VVPAT verification, challenging the decision that dismissed a demand for 100% vote cross-verification.

14 May, 2024 12:13 PM
ai-cant-detect-consent-microsoft-and-google-tell-delhi-high-court
Trending Judiciary
AI can’t detect consent Microsoft and Google tell Delhi High Court

Microsoft and Google tell Delhi HC that AI can't detect consent for NCII takedowns, challenging a 24-hour removal directive under IT Act's safe harbour protections.

14 May, 2024 01:33 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email