Lawstreet Journal

Amazon Accuses Future Group Of Colluding With Reliance To Hand Over Stores

Lawstreet Journal 1 Apr 2022 11:15am

Image courtesy: Lawstreet Journal Business Amazon Accuses Future Group Of Colluding With Reliance To Hand Over Stores

Seeking orders to restrain Future Retail  Limited (FRL) from alienating its assets, E-commerce giant Amazon contended before the Hon’ble Supreme Court that the FRL was acting in collusion with Reliance so to let the latter take over the former's stores in violation of the injunction orders. 

Future Group, on the other side , contended  that it was facing great financial problems  which resulted in termination of the leases of their stores, and that the landlords later handed over the properties to Reliance group. 

During the hearing, the Hon’ble Supreme Court asked if it can pass any restraint orders without hearing the landlords. The Supreme Court will continue the hearing on April 4 , 2022.

The bench consist of the Chief Justice of India NV Ramana, Justice Krishna Murari and Justice Hima Kohli was hearing Amazon's appeal against the Delhi High Court order which stayed the proceedings in the Singapore Arbitration Tribunal. 

In the  appeal, it has moved an application seeking to restrain the alienation of FRL assets. According to Amazon, assets must continue to remain with FRL and operate with FRL until matter is resolved by arbitral tribunal. 

Senior Counsel Gopal Subramanium, appearing for Amazon, contended  that the recommencement  of arbitration is in the mutual  interest of both the parties and added that there can be no sudden handover of assets to revise  the status quo. He said that over 800 shops of Future Retail Limited  have been vacated and taken over by Reliance group. 

In response to FRL's submission that… Continue Reading...

Tagged: Amazon   Future Group  
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