New Delhi: The Delhi High Court on Monday dismissed a petition by Kishore Biyani-led Future Retail Ltd (FRL), which appealed to Amazon to refuse to write to the SEBI, CCI about the Singapore court’s decision. Went. Justice Mukta Gupta rejected the FRL’s plea. The petition claimed that Amazon was writing to the authorities about the emergency tribunal’s decision on the Rs 24,713-crore Reliance-Future deal.
The Singapore International Tribunal Center (SIAC), in its order dated October 25, ruled in favor of Amjon on Future Retail Ltd for any transfer, liquidation or acquisition of funds from the other party under the terms of any agreement on securities. Has prohibited issuance.
The case relates to the acquisition of 49 per cent stake in Future Group company Future Coupons Ltd by Amazon in August last year and the right to purchase the first stake in the group’s flagship company Future Retail. Future Coupons also has a stake in Future Retail. The dispute in this regard arose when Future Group entered into an agreement to sell its retail, warehousing and logistics business to Reliance Industries for around Rs 24,000 crore.
