The Delhi High Court on Tuesday dismissed Future Group's petition seeking a direction to declare Singapore arbitration tribunal proceedings with its warring partner Amazon as illegal.
The ruling came after Future Group companies on Monday moved the HC seeking a direction to the arbitration tribunal, which is adjudicating Amazon’s objections against their deal with Reliance, to decide their application seeking termination of arbitral proceedings before moving any further.
Justice Amit Bansal at the Delhi High Court said that the filings were dismissed, BusinessToday.in learnt.
Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020, arguing that FRL had violated their contract by entering into the deal for the sale of its assets to billionaire Mukesh Ambani’s Reliance Retail on a slump sale basis for Rs 24,500 crore.
Amazon is objecting to the sell-off plans, accusing Future Group of breaching its 2019 investment pact. Future Coupons was founded in 2008 and is engaged in the business of marketing and distribution of gift cards, loyalty cards, and other reward programmes to corporate customers.
In October last year, the high court had refused to stay the arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained Future Group from going ahead the deal with Reliance.
Several issues arising from the Amazon-Future legal battle are pending before the Supreme Court.
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