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HC Declines to Injunct Amazon from Writing to Authorities About SIAC Award Against FRL

Representative Image

Representative Image

Justice Mukta Gupta passed the order on FRL's plea claiming that Amazon writing to the authorities about the emergency arbitrator's award amounts to interfering with theRs 24,713 crore Reliance-Future deal.

The Delhi High Court on Monday declined to grant Kishore Biyani led Future Retail Ltd's (FRL) plea for aninterim injunction restraining Amazon from writing to SEBI, CCI and other authorities about the arbitral order against its asset sale.

Justice Mukta Gupta passed the order on FRL's plea claiming that Amazon writing to the authorities about the emergency arbitrator's award amounts to interfering with theRs 24,713 crore Reliance-Future deal.

The Singapore International Arbitration Centre (SIAC) on October 25 had passed an interim order in favour of Amazon barring FRL from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.

Subsequently, Amazon wrote to market regulator SEBI, stock exchanges and the Competition Commission of India (CCI), urging them to take into consideration the Singapore arbitrator's interim decision as it is a binding order.

first published:December 21, 2020, 12:05 IST