Future-Amazon: Supreme Court sets aside Delhi HC order on emergency award

In a major relief to the Future group, the Supreme Court on February 1 set aside the previous orders of the Delhi High Court containing adverse remarks and coercive action against the Future group. The issue of enforcement of the emergency award, in Future group's dispute with Amazon, has been remanded to the high court to be heard afresh on merit.

The apex court bench headed by Chief Justice of India NV Ramana was delivering its ruling on a batch of pleas filed by the Future group companies that pertained to the enforcement of the award passed by an emergency arbitrator under the Singapore International Arbitration Centre's rules that injuncted Future group from proceedings with its Rs 25,000 crore asset sale deal with a wholly-owned subsidiary of Reliance Industries Ltd.

The Kishore Biyani-led group had challenged orders of the Delhi High Court passed in February 2021 that directed for the enforcement of this emergency award, made adverse remarks against the promoters of Future group, and directed for coercive steps to be taken against Biyani and other key persons in the Future group management.

While the Supreme Court today set aside the order pertaining to coercive steps and adverse remarks, the issue concerning enforcement of the emergency award has been remanded to the high court and must be heard afresh, the court said.