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Delhi HC Stays Single Judge Order Restraining Future-Reliance Deal

Future had appealed against the previous order, and a request for stay was made by Senior Advocate Harish Salve.

Published
India
2 min read
The Delhi High Court on Monday, 22 March, stayed the Single Judge order which directed attachment of Future Group companies and Kishore Biyani’s properties.
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The Delhi High Court on Monday, 22 March, stayed the Single Judge order which directed attachment of Future Group companies and Kishore Biyani's properties with regard to Amazon's plea seeking enforcement of the Emergency Award against the Future Group-Reliance deal, Bar and Bench reported.

Future had appealed against the previous order, and a request for stay was made by its counsel, Senior Advocate Harish Salve.

A division bench of Chief Justice DN Patel and Justice Jasmeet Singh issued a notice saying, “We hereby stay the single judge order dated 18 March, 2021 till next date of hearing,” Bar and Bench quoted.

Salve highlighted that even in the case of the ad-interim order passed by the single judge, the Court had granted a stay, which was not stayed by the Supreme Court in appeal, the counsel said,

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"There's a finding of breach. This has gone much beyond .. we were under the impression that the Single Judge would get reasons (for prima facie order..Supreme court in SLP has directed that all these (NCLT) hearings can go on .. this Court's order has not been stayed. Single Judge's order has to be stayed," Bar and Bench quoted.

Future’s advocate Iqbal Chagla also argued in favour of the stay, while senior counsel Gopal Subramaniam, appearing for Amazon, submitted that the Single Judge's matter should be brought to Supreme Court’s attention for further directions, Bar and Bech reported.

The matter will be taken up on 30 April 2021.

Background

The Delhi High Court on 18 March had restrained Future Retail from going ahead with its Rs 24,713 crore deal with Reliance on Amazon's petition, as it upheld the Singapore International Arbitration Centre's order.

Noting that Future Retail wilfully violated the Singapore Arbitrator's order, the single judge bench of Justice JR Midha directed the company to not take further action on the Reliance deal, the report said.

A cost of Rs 20 lakh had also been imposed on the company and its directors, which was directed to be deposited with the Prime Minister’s Relief Fund, and used for vaccination of senior citizens.

(With inputs from Bar and Bench)

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