By LE Desk

New Delhi, March 22: A Delhi High Court division bench stayed last week’s single-judge order that had imposed costs on some Future Group companies and others after holding them guilty of wilful violation of the emergency arbitrator’s order in favour of Inc. 

The bench, headed by Chief Justice DN Patel and Justice Jasmeet Singh, on Monday granted the stay in an appeal filed by Future Coupons Pvt. against the order of Justice JR Midha. Senior Advocate Harish Salve represented the Future Group. Senior Advocate Gopal Subramanium, on behalf of NV Investment Holdings LLC, informed the court that they would be filing an application seeking the enforcement of the emergency arbitrator’s order in the Supreme Court, BloombergQuint reported.

Justice Midha had earlier ordered a status-quo, effectively putting the sale of retail assets by Future Retail Ltd. to Reliance Retail Ltd. on hold. The division bench stayed that interim order, prompting Amazon to approach the Supreme Court.

Last week, Justice Midha found the emergency arbitrator’s order to be valid and capable of being enforced in India. It ordered that no action in violation of the October order must be taken, and directed that assets of Future Retail, Future Coupons, Kishore Biyani and others to be attached and asked them to file details of their assets within 30 days.

Justice Midha also said a show-cause notice be issued to Kishore Biyani and others to explain why they should not be detained in civil prison. Competent authorities to be approached for recall of the orders passed on their applications in violation of the Emergency Arbitrator’s order, the single-judge order had directed. It had also asked Kishore Biyani and others be present before the court on the next date of hearing. 

After staying the single-judge order, the division bench posted the case for hearing on April 30.

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