Amazon case: SC asks Future not to proceed with RIL deal till next hearing

The top court orally asked the Future group to not proceed with the matter at any other forum till the top court finally hears the case.

Justice Hima Kohli, part of a three-judge headed by Chief Justice of India NV Ramana hearing the matter, said she and her family members hold shares in Reliance group companies and offered to recuse, if any party or counsel had objections to her being on the bench.

Counsel representing parties in the matter said they had no objection to Justice Kohli hearing the matter. During the hearing, the bench orally asked the Future group to not proceed with the matter at any other forum till the top court finally hears the case and scheduled the matter for further hearing on November 23.

On September 9, the Supreme Court had stayed all proceedings before the Delhi High Court on Amazon’s petition seeking enforcement of Singapore emergency arbitrator’s (EA) award, which restrained the Future Group from going ahead with its Rs 24,731 crore merger with Reliance Retail.

A bench headed by the Chief Justice had then said: “We think it fit to balance the interest of both the parties by staying all further proceedings before the Delhi High Court for the time being. Ordered accordingly. We further direct to all the authorities, i.e., NCLT, CCI and SEBI not to pass any final order for a period of four weeks from today. This order has been passed with the consent of both the parties.”

Will expose Amazon’s misinterpretation, before CCI :FRL Independent Director

Future Retail’s (FRL) independent director Ravindra Dhariwal said the independent directors of the company’s board are collating information to expose the details of contradiction and misrepresentation made by Amazon before the Competition Commission of India (CCI).

“We are going out to point exactly to CCI, this is what they have told you and this is what the internal documents are saying. We are going to expose the details of contradiction and details of misrepresentation, which they have made,” says Dhariwal. On being asked why the directors were raising the issue almost three years after the deal, Dhariwal stated it was only now the e-commerce giant’s intent came out in public.