Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi High Court.
Let no order of any kind be passed of any kind or any other petition and application, which may be filed by the petitioners/caveatee (Amazon.com NV Investment Holdings LLC) against the respondent/ caveator - Future Retail Ltd, without due notice under section 148A of the code of civil procedure, the Future Group firm stated in its urgent caveat petition.
A caveat is filed by a litigant in high courts and in the Supreme Court to ensure that no adverse order is passed against the party without it being heard.
The Future group firm has already served a copy of the caveat petition to Amazon, it said.
“You are requested to give at least 48 hours notice before moving any petition under section 9 of the Arbitration & Conciliation Act or any other application against the proposed respondent/caveator,” the Future Group firm said while sending a copy of caveat to Amazon.
Amazon declined to comment on the development.
On October 25, Singapore International’s Arbitration Centre (SIAC) passed an interim award in favour of Amazon, with a single-judge bench of VK Rajah barring FRL from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.
However, on Sunday, in a regulatory filing Future Retail (FRL) said Singapore arbitrator’s interim order against its Rs 24,713 cr deal with RIL is not binding, any attempt to enforce it will be resisted.
It said order was passed in arbitration proceedings initiated by Amazon by invoking an arbitration clause in a contract to which FRL is not a party.
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