The Supreme Court on Monday heard the petition filed by Amazon against Future Retail Limited and others against the Delhi High Court directive to maintain the status quo on the Future-Reliance Agreement.
A bench of Justice RF Nariman and Justice BR Gavai issued notice against Future Retail Limited, Chairman Kishore Biyani and others seeking their reply in this regard. The apex court said that proceedings before the National Company Law Tribunal (NCLT) would continue, but there would be no final decision on the merger of FRL with Reliance.
Issuing a separate notice to FRL and others, the bench asked them to respond to Amazon’s petition within three weeks and Amazon’s petition would be listed for hearing two weeks later.
Last month, Amazon moved the Delhi High Court and requested the Singapore International Arbitration Center (SIAC) to implement an interim order of emergency arbitrator (EA). The emergency arbitrator had barred FRL from proceeding with the agreement with Reliance.
The bench, in an interim order issued on February 8, said it was staying the order of the single bench as the FRL was not a party to the Common Membership Agreement (SSA) between Amazon and Future Coupons Pvt Ltd (FCPL) and US e-commerce. The company is not a party to the agreement between FRL and Reliance Retail.