Kishore Biyani-owned Future Retail has filed a lawsuit against Amazon in the Delhi High Court on Saturday. The company stated that it is misusing its interim stay which was granted in favor of the latter in the matter of a deal between Future Group and Mukesh Ambani-owned Reliance Retail by the Singapore International Arbitration Court (SIAC).
Informing the exchanges on November 7, the Future Group said it is “seeking necessary reliefs against Amazon.com NV Investment Holdings LLC (“Amazon”) from interfering with the Transaction by misusing an Interim Order dated 25th October, 2020 issued by an Emergency Arbitrator, appointed by the Singapore International Arbitration Centre (SIAC).”
Earlier this month, both Amazon and Future Group had filed a caveat in the court stating that each of them should be given an opportunity to be heard, else the order passed by the bench would be null and void.
Future Group’s argument is on the basis that the interim order, dated October 25, was passed in an arbitration proceeding initiated by Amazon inter-alia against the company under an agreement, wherein the company is not a party to the agreement.
It had earlier also questioned the jurisdiction of the SIAC as Future Retail was an Indian company and bound to the Indian Laws alone. Post the order, both Reliance, and Future Retail had said it would proceed with the approximately Rs 25,000 crore deal.