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After the Delhi High Court cleared the decks for the Future-Reliance Retail deal, e-commerce Amazon has moved Supreme Court against its verdict.

Amazon alleges that Future violated contracts by agreeing to sell its retail assets to Reliance Industries last year. 

The US firm had succeeded in effectively blocking the Reliance-Future Retail deal by moving the Delhi High Court, but the Division Bench of the Court dealt a blow by revoking the single bench verdict.

Subsequently, Amazon has filed an appeal against the stay in the Supreme Court, sources said.

The Delhi High Court earlier stayed the single judge bench order directing a ‘status quo’ on Future Retail, Reliance deals till the next hearing. 

The division bench observed Amazon has no business seeking a status quo because they are not interested in the deal. 

It also observed that the statutory authorities had been asked to maintain the status quo when they themselves were not even present before the Delhi High Court.

The court also recorded that as part of Amazon’s investment agreement into Future Coupons, Future Retail was not a signatory to that investment agreement.

On Tuesday, Future Group had filed a caveat before SC requesting to be heard if Amazon files a plea.

Future denies any wrongdoing.

Source

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