Amazon has filed a plea with the Supreme Court challenging the Delhi High Court’s decision on the dispute with Future Retail.
Amazon submitted to the top court that the High Court has acted “illegally and arbitrarily”, that its order is “hasty” and also “against the principles of natural justice, equity and fair play.” In its appeal petition, Amazon sought interim relief to block the deal between Future Retail and Reliance Industries Limited.
Related Stories
Future Retail appeals against status quo order passed by Delhi HC
A single judge had passed an order in favour of Amazon blocking the Future Retail-Reliance dealThe petition will be heard by a single-judge Bench before being admitted. A Division Bench of the Delhi High Court had vacated the stay on the deal between Future and Reliance Retail. Amazon alleged its oral submissions weren’t taken into consideration. “The High Court has acted illegally and arbitrarily, firstly in failing to appreciate much less consider the oral submissions made by the petitioner, and the catena {connected or series} of judgments relied upon by the petitioner.”
Amazon further said the order “is also against the principles of natural justice, equity and fair play.”
Amazon has stated that the balance of convenience lies in favour of the e-commerce giant. It further said that Future Retail and Reliance will continue to take steps to complete the impugned transaction. “The greater the progress made towards the completion of the impugned transaction, the harder it will be to unravel it.”
So far, SEBI and the Competition Commission have green lighted the deal. The matter has now been listed before the NCLT for hearing on March 1.
Related Stories
Future uncertain for Biyani firms
Suppliers drag group companies to insolvency court over unpaid dues
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.