Delhi High Court rejects Future Group’s plea to terminate arbitration proceedings before Singapore tribunal

The arbitration before SIAC will continue and did not express any opinion on the merits of the arguments in the matter, say Delhi HC

PGurus Newsdesk

November 22, 2022

The arbitration before SIAC will continue and did not express any opinion on the merits of the arguments in the matter, say Delhi HC

Legal battle between Amazon and Future Group was going on for over 2 years in various courts in India and Singapore

The Delhi High Court on Tuesday junked a plea by the Kishore Biyani-led Future Group seeking to terminate the arbitration proceedings initiated by e-commerce giant Amazon before the Singapore International Arbitration Centre (SIAC).

Justice C Hari Shankar said, the arbitration before SIAC will continue and did not express any opinion on the merits of the arguments in the matter.

On November 17, the Supreme Court also expressed its discontent with the Future Group for attempting to defeat its order and intending to stall the proceedings before the Singapore tribunal in connection with the dispute.

Amazon and Future Group were in a legal battle for over two years in various courts in India and in Singapore following Rs.24,713 crore deal to sell the latter’s retail, wholesale, logistics, and warehousing assets to Mukesh Ambani’s Reliance Industries Ltd. The Future Retail-Reliance Retail deal has been called off by Reliance Industries.

Expressing concern, a bench headed by Chief Justice D Y Chandrachud told senior advocate K V Viswanathan, representing the Future Group, that the intention of his client is to defeat the arbitration, and that it is stultifying the order of this court.

“All ploys by well-heeled parties to delay the arbitration proceeding. Your client is trying to be too clever by half,” the bench had said.

[With Inputs from IANS]

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