The recently passed Delhi High Court order related to Future Group’s proposed asset sale to Reliance Retail will end Amazon’s ‘manipulative, coercive, arbitrary and dictatorial policies’ to dominate India’s retail trade, said traders body CAIT. The court rejected Future Retail’s (FRL) plea for an interim injunction to restrain Amazon from writing to Sebi, the Competition Commission and other authorities about the SIAC arbitral order against the proposed Rs 24,713 croredeal with Reliance Retail.
Justice Mukta Gupta said while FRL has made out a prima facie case of interim injunction, the relief cannot be granted as the balance of convenience lies in favour of both FRL and Amazon, and whether any irreparable loss would be caused to either side, has to be determined during the trial of the suit or by a competent forum. Another reason why it did not grant an interim injunction was that both FRL and Amazon have already made their representations and counter representations to the statutory authorities or regulators and “now it is for the statutory authorities/ regulators to take a decision thereon”, the court said.
