Future Group Moves Supreme Court Against Delhi HC Order In Amazon Case
- ByAyushi Ray | August 13, 2021
Future group moves Supreme court against Delhi HC order in Amazon case. Kishore Biyani, Rakesh Biyani and other family members of the Biyani family along with the holding companies Future Coupons, Future Corporate Resources, Akar Estate and Finance which are all part of the Future Group moves Supreme Court. They have filed SLP against Amazon.com NV Investment Holdings LLC before the Supreme Court, said a regulatory filing by a group firm Future Retail Ltd. EA of Singapore International Arbitration Centre (SIAC) had passed a restricting order on October 25 last year and stopped the Future group from going ahead with its ₹24,731 crore deal with Reliance Industries to sell its retail and wholesale business, and the logistics and warehousing business.
Amazon, which has 49 per cent stake in one of Future’s unlisted firms, Future Coupons Ltd had approached SIAC. “We would like to inform that as per information received from promoters of the Company comprising of Future Coupons, Future Corporate Resources, Akar Estate and Finance, Kishore Biyani, Rakesh Biyani and other family members of the Biyani family… have lodged a Special Leave Petition against Amazon.com NV Investment Holdings LLC before Supreme Court of India to challenge and set aside the orders passed by the Delhi High Court in execution proceedings for enforcing the Interim Order dated October 25, 2020, of the Emergency Arbitrator,” the filing said.
Follow Startup Story
Related Posts
