Amazon challenges Delhi HC stay on arbitration with Future at Supreme Court
The Special Leave Petition was filed on Saturday and is expected to be taken up for hearing this week.
- Jan 10, 2022,
- Updated Jan 10, 2022 1:41 PM IST
Amazon has challenged the Delhi High Court order that stayed the arbitration proceedings against Future Group in connection to a deal struck in 2019 between the two companies. The Special Leave Petition was filed on Saturday and is expected to be taken up for hearing this week.
The two companies have been embroiled in a long dispute over the deal etched out between Future Group and Reliance Industries. Amazon cited its right of first refusal as part of its 49 per cent stake in Future Coupons Private Limited to challenge the Future-RIL deal.
An arbitration tribunal in Singapore has been hearing Amazon’s case against Future. The tribunal passed an interim order to stall the sale of Future Retail’s assets to RIL.
Last month the CCI stated that Amazon failed to notify it about crucial details as required under Section 6(2) of the Competition Act, 2002. It also imposed a penalty of Rs 202 crore on Amazon. Subsequently, Future, based on the CCI order moved the Delhi High Court seeking a stay on the arbitration proceedings before the Singapore tribunal. The Division Bench stayed the proceedings, citing the CCI order.
Amazon reportedly also filed an appeal in the National Company Law Appellate Tribunal against the CCI order on January 9.
Also read: Amazon, Flipkart revenues soar in FY21 as e-commerce sees aggressive sales Also read: Amazon challenges CCIs's antitrust suspension of 2019 Future deal: Report
Amazon has challenged the Delhi High Court order that stayed the arbitration proceedings against Future Group in connection to a deal struck in 2019 between the two companies. The Special Leave Petition was filed on Saturday and is expected to be taken up for hearing this week.
The two companies have been embroiled in a long dispute over the deal etched out between Future Group and Reliance Industries. Amazon cited its right of first refusal as part of its 49 per cent stake in Future Coupons Private Limited to challenge the Future-RIL deal.
An arbitration tribunal in Singapore has been hearing Amazon’s case against Future. The tribunal passed an interim order to stall the sale of Future Retail’s assets to RIL.
Last month the CCI stated that Amazon failed to notify it about crucial details as required under Section 6(2) of the Competition Act, 2002. It also imposed a penalty of Rs 202 crore on Amazon. Subsequently, Future, based on the CCI order moved the Delhi High Court seeking a stay on the arbitration proceedings before the Singapore tribunal. The Division Bench stayed the proceedings, citing the CCI order.
Amazon reportedly also filed an appeal in the National Company Law Appellate Tribunal against the CCI order on January 9.
Also read: Amazon, Flipkart revenues soar in FY21 as e-commerce sees aggressive sales Also read: Amazon challenges CCIs's antitrust suspension of 2019 Future deal: Report