From Our Bureau
NEW DELHI: The Supreme Court on Wednesday disposed of the Special Leave Petition (SLP) of the American ecomerce major Amazon, challenging the stay of the arbitration proceedings against the Future Group of Biyani in the Singapore International Arbitration by Delhi High Court on January 5.
A 3-judge Bench headed by Chief Justice of India N V Ramana directed the parties to approach the Singapore arbitral trial on the understanding that it will hear Future Retail’s termination application.
The Apex Court has also ordered both Future Retail and Amazon to transmit the intervention application tp a single judge to pass the appropriate order.
Tired of the multi-layer litigations between Amazon and Future over the retail assets of Future that the Reliance Ltd of Mukesh Ambani wants to buy, the CJI said: “I hope there will not be a need for me to hear this issue again during my tenure as CJI.”
Both Amazon and Future Group have fought over each other in many legal forums, including Delhi High Court, National Company Law Appellate Tribunals (NCLAT) and others over assets and violation of agreements.
