Delhi High Court on Monday declined Amazon’s request to keep in abeyance for a week its decision to stay the status quo order regarding Future-Reliance deal. The High Court stayed the implementation of single-judge status quo order on the Future-Reliance deal while noting that Future Retail Ltd was not a party to an arbitration agreement with Amazon.
A division bench of Chief Justice D.N. Patel and Justice Jyoti Singh prima facie said that group of companies doctrine could not be invoked in the present case as the three agreements are distinct in nature.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">HC declines Amazon''s request to keep in abeyance for a week its decision to stay the status quo order regarding Future-Reliance deal</p>— Press Trust of India (@PTI_News) <a href="https://news.abplive.com/news/india/does-govt-want-to-keep-j-k-as-ut-ghulam-nabi-azad-questions-centre-jammu-and-kashmir-reorganisation-bill-rajya-sabha-1443170">February 8, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Observing that there was no reason to seek a status quo order from the Single Judge, the High Court said that statutory authorities like SEBI, CCI could not be restrained from “proceeding in accordance with law”.
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Future Retail (FRL) had last week moved the division bench in an appeal against the status quo order passed by a single bench.
Issuing notice in the appeal, the division bench said that the single judge should pass its order uninfluenced by the present order.