New Delhi, November 3: The Future group has filed caveat petition in the Delhi High Court against Amazon, anticipating that the company could approach the high court over the Future group-Reliance deal.

The caveat petition, filed on Monday, prayed that no order should be passed in any plea or petition against Future group without due notice to it and hearing it in the matter, Live Mint reported.

Incorporated under Section 148A of Civil Procedure Code, 1908, the Indian Law defines caveat petition as a precautionary measure taken that certain actions may not be taken without informing the person who gave the notice.

Mint had reported on 29 October that Amazon.com Inc which won interim relief against Future group in a Singapore court, is likely to move an Indian high court by next week to enforce the verdict if Future declines to pursue arbitration proceedings in the city-state.

The Singapore International Arbitration Centre (SIAC) on Sunday had restrained Future from selling its assets to Reliance Industries Ltd (RIL).

The dispute between the two parties relates to Future’s sale of its retail, wholesale and warehousing assets to Mukesh Ambani’s RIL for ₹24,713 crore. Amazon, which owns a 5% indirect stake in Future Retail Ltd, has contested the sale in the Singapore court, claiming that its 2019 investment agreement bars Future group from selling its assets to RIL.

https://www.livemint.com/news/india/future-group-files-caveat-plea-in-delhi-hc-against-amazon-11604384831848.html

0 CommentsClose Comments

Leave a comment