Delhi HC restrains Future Group from going forward with RIL deal


New Delhi, March 18

The Delhi High Court on Thursday upheld the Singapore’s Emergency Arbitrator’s (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713-crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.

Justice JR Midha directed Kishore Biyani-led FRL not to take further action on the deal and held that the group wilfully violated Singapore Arbitrator’s order.

The high court directed the Future Group and its directors to deposit Rs 20 lakh cost in Prime Minister’s Relief Fund for providing Covid vaccines to senior citizens of Below Poverty Line (BPL) category.


Rs 24,713-crore transaction


Kishore Biyani-led Future Retail Ltd had inked an agreement with Reliance Retail for selling its business for Rs24,713 crore


The high court directed the Future Group and its directors to deposit Rs20 lakh cost in Prime Minister’s Relief Fund for providing Covid vaccines to senior citizens of BPL category

The court directed the presence of Biyani and others before it on April 28 as also attachment of their properties

The court directed the presence of Biyani and others before it on April 28 as also attachment of their properties.

The high court asked them to show cause as to why they be not detained for three months under civil prison for violating emergency arbitrator’s order.

The high court’s order came on Amazon’s plea seeking direction to order enforcement of the award by Singapore’s EA on October 25, 2020, restraining FRL from going ahead with its Rs 24,713-crore deal with Reliance Retail.

Amazon, in its interim plea, has sought to restrain FRL from taking any steps to complete the transaction with entities that are a part of the Mukesh Dhirubhai Ambani (MDA) Group.

Future Group and Amazon have been locked in a battle after the US-based company took FRL into the emergency arbitration over alleged breach of a contract between them.

On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the deal between Future Retail Ltd and Reliance, which has been challenged by the e-commerce company. — PTI



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