Future Retail challenges Delhi HC judgment on Reliance Retail deal

Kishore Biyani-led Future Retail approached the Delhi High Court against its single judge order directing the company to maintain status quo on its Rs 24,713 crore deal with Reliance Retail. In August last year, Future had reached an agreement to sell its retail, wholesale, logistics and warehousing units to Reliance. Amazon had urged the high court to enforce the order passed by Singapore's Emergency Arbitrator (EA) restraining FRL from going ahead with its Rs 24,713 crore deal.

Amazon.com NV Investment Holdings LLC also sought detention of the directors of FCPL and FRL and other related parties in civil prison and attaching of their properties for alleged "wilful disobedience" of the emergency arbitrator's order. The HC which heard the matter for four consecutive days, had reserved its order on the main petition and also directed all other concerned authorities to maintain status quo in relation to the matters which are in violation of the emergency award and to file status report with regard to the present status within 10 days.