The Delhi High Court on Monday stayed a single judge’s order restraining Future Retail from going ahead with its multi million deal with Reliance Retail to sell its business. A division bench of Chief Justice D N Patel and justice Jasmeet Singh also issued notice to Amazon on Future Group’s appeal challenging the single judge’s March 18 judgment on the deal which has been opposed by US-based e-commerce giant.
The bench will now hear the matter again on April 30. On Monday, the bench further stayed the single judge order asking for attachment of assets of Future Group’s Kishore Biyani and others and also the part where the single judge had directed them to appear in court on April 28.
Justice J R Midha’s order had come on Amazon’s plea seeking direction to order enforcement of the award by Singapore's Emergency Arbitrator on October 25, 2020, restraining Future Retail from going ahead with its £2.47 billion deal with Reliance Retail.
Senior advocates Harish Salve, Iqbal Chagla and Rajeev Nayyar appeared for the Future group and urged the court to immediately stay the ruling. The counsels pointed out that even the Supreme Court had not interfered with an earlier stay by the HC division bench against an interim order by the same single judge. Justice Midha on March 18, while upholding the Emergency Award passed against the Future-Reliance deal, also imposed cost of Rs 20,00,000 on Biyani and others.
