Future-Reliance deal: Amazon moves SC against HC division bench order lifting stay

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      Both of these orders were stayed by the division bench until the next hearing date, April 30.

      Amazon filed a petition in the Supreme Court on Wednesday, March 22, challenging a Delhi High Court division bench’s March 22 order lifting a single-judge bench’s stay on the Rs 24,713-crore Future Retail-Reliance Retail contract.

      The single judge order had found Future group chairman Kishore Biyani and others guilty of going through with the contract and sent a show-cause notice to him and other directors, which was stayed by the division bench. On March 21, the single judge also ordered Future to contact regulatory authorities to get all permissions for the transaction revoked and pay a Rs 20 lakh deposit for breaching the Singapore emergency arbitrator’s temporary stay order on October 25, 2020.

      The judge had already requested that Biyani’s and other directors’ properties be attached and that they appear before him on April 28.

      Both of these orders were stayed by the division bench until the next hearing date, April 30.

      The division bench had earlier on February 8 lifted the single judge’s February 2 order prohibiting Future from getting approval for the contract, allowing it to proceed. Amazon then filed a petition with the Supreme Court against the decision. Despite allowing the proceedings for obtaining clearances to resume before the National Company Law Tribunal’s Mumbai bench on February 22, the Supreme Court barred the tribunal from issuing a final order before the matter is resolved.

      The appeal will be heard again by the Supreme Court on April 27.

      The Future Group-Amazon contract is currently being litigated in the Supreme Court, before various benches of the Delhi High Court and the NCLT, Mumbai bench.