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Future Retail Ltd (FRL) has questioned the jurisdiction of the Singapore tribunal on its dispute with Amazon, and said it will file a plea seeking vacation of the Singapore International Arbitration Center (SIAC) Emergency Arbitrator’s (EA) order.
In a fresh letter to the SIAC, Future Retail has said the order by a single Bench judge of the Delhi High Court has superseded the Singapore arbitration award. It wishes “to raise jurisdictional objection as a preliminary challenge,” it wrote. It further requested the Tribunal “to rule upon jurisdictional objections first, in a separate decision before the merits of the case.” A copy of the letter was viewed by BusinessLine .
This comes even as Amazon has moved a petition in the Delhi High Court to implement the interim stay passed on the Future Retail-Reliance deal by the EA in October 2020. SEBI and the Competition Commission of India, meanwhile, have approved the ₹25,000-crore asset sale.
Future Retail added that the EA’s award is unenforceable, void, and in any event superseded by the high court order. FRL further said it will “file an application under Schedule I Rule 10 for vacation of the interim injunction granted by the interim award dated October 25, 2020, passed by the EA.
Asked why FRL had written this letter, a company source, requesting anonymity, said: “Amazon has been using the SIAC’s interim stay to argue against the deal. To cushion its position, Future has written this letter.”
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