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Future Retail Ltd has sought an early hearing for its special leave petition filed in the Supreme Court against the Delhi High Court order passed last month.
The Delhi HC stalled the ₹24,731-crore merger deal with Reliance Retail and ordered attachment of assets of FRL’s promoters and directors.
On August 6, the Supreme Court ruled in favour of Amazon and upheld the Singapore EA's award, restraining the merger deal. The court also held that the award is valid and enforceable under Indian arbitration laws.
On Friday, senior counsels Harish Salve and Mukul Rohatgi, appearing for FRL, sought an early hearing of the appeal.
They told the court that if the petition wasn’t heard immediately, it would have a long bearing impact on Future Retail, its promoters and its directors.
Delhi HC’s verdict
Earlier last month, the Delhi High Court also upheld the interim award by Singapore's Emergency Arbitrator (EA) restraining FRL from going ahead with the deal. It said that it would implement the earlier order of the single judge Bench restraining FRL from going ahead with the deal.
Along with this, the court had asked the parties to file an affidavit, detailing their assets and explaining why they should not be detained under civil prison for three months for violating the Singapore EA's order.
Future Retail’s promoter, Kishore Biyani, along with 15 other parties, has been embroiled in a series of litigations with Amazon, an investor in FCPL, over the deal with Reliance.
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