The bench said that the pleas, which are arising from the EA’s award and are pending before it, may not be “relevant now as the final award of the SIAC has already been passed".
The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
The Delhi High Court on Tuesday dismissed the petitions by Future Group seeking a direction to the arbitration tribunal, adjudicating Amazon's objections against Future Group's deal with Reliance, to take a decision on their application for terminating the arbitration proceedings before moving any further
The stock of Future Enterprises Ltd tumbled 7.10 per cent, Future Retail Ltd tanked 6.29 per cent, Future Lifestyle Fashions Ltd fell 5.53 per cent, Future Supply Chain Solutions Ltd slipped 4.79 per cent and Future Consumer Ltd slumped 4.24 per cent on the BSE.
The Singapore tribunal had on December 30 refused to consider the Future group's request for terminating the arbitration proceedings before the commencement of the final hearing this week.
Petitioners Amazon Wholesale (India) Pvt Ltd and Amazon Seller Services Pvt Ltd challenged the jurisdiction of the Enforcement Directorate (ED) and its officers to investigate Amazon Wholesale (India) Pvt Ltd.
Future Lifestyle Fashions jumped 20 per cent, Future Supply Chain Solutions 19.99 per cent, Future Retail Ltd 19.92 per cent, Future Enterprises 19.93 per cent.
Reuters reports that the North American e-commerce retailer had made false and incorrect statements and suppressed the actual scope.
The Supreme Court was unhappy with the content and timing of submissions made by both Amazon and Future Group. It stated that there was no connectivity in the submissions.
Bezos wins the first point as Supreme Court rules in favour of Amazon, and puts on hold the $4.3 billion deal.
The petition by the US based e-commerce giant has sought a stay on the March 22 order of the division bench, terming it 'illegal', 'random', 'inequitable and unfair'.
Justice J R Midha directed Kishore Biyani-led FRL not to take further action on the deal and held that the group wilfully violated Singapore Arbitrator's order.
Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no-objection certification.
Unacademy, which lost the IPL title sponsorship bid to Dream11, is in line to become one of the official sponsors along with Cred
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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