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Factbox: Forums where Future Retail-Amazon case is being heard

Amazon, which gained a foothold in FRL through a 2019 deal with its gift coupons unit, has taken the legal route in a bid to block the sale of the company's retail assets to RIL.

February 26, 2022 / 08:29 PM IST
Representative Image

Representative Image

The Kishore Biyani-led Future Retail Ltd (FRL) is locked in a legal battle against American e-commerce giant Amazon at various forums, over a merger deal which it had signed in August 2020 with Mukesh Ambani's Reliance Industries Ltd (RIL).

Amazon, which gained a foothold in FRL through a 2019 deal with its gift coupons unit, is attempting to block the sale of the company's assets to RIL. The e-commerce firm recently faced a setback after the Competition Commission of India (CCI), in December 2021, suspended its approval of Amazon's 2019 deal with Future Coupons.

Here are the other forums where the Future Retail-Amazon case is under litigation.

Supreme Court

- Supreme Court is hearing a writ petition filed by FRL against the lenders' action against it. Amazon was not originally a party to this case, but the apex court had sought to know what Amazon wanted to say.

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- Amazon is, notably, seeking resumption of Singapore International Arbitration Centre (SIAC) arbitration proceedings which were stayed by the Delhi High Court. The HC stayed the proceedings on the grounds that CCI has suspended its approval for the Amazon-Future deal.​

Delhi High Court

- A single-judge bench is now hearing a batch of different petitions and appeals concerning the different orders passed by SIAC tribunals. Amazon seeks enforcement of the awards passed by the SIAC tribunal while Future challenges them.

- A two-judge bench of the HC is also scheduled to hear Future group's case seeking final termination of SIAC arbitration. The interim order passed by this bench staying the proceedings is pending before the SC.

NCLAT

- The National Companies Law Appellate Tribunal (NCLAT) is hearing Amazon's appeal against the December 2021 order passed by the CCI, through which the anti-trust regulator kept in abeyance (or temporarily suspended) its approval for the 2019 investment deal between Amazon and Future.

- CCI said that Amazon had hidden some significant details about its interest in future group. On the basis of this CCI order, Future Group sought termination of SIAC arbitration proceedings.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.



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Moneycontrol News
first published: Feb 26, 2022 08:20 pm
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