The arbitration proceeding between Amazon and the Future group will resume in Singapore next week that led to the Indian Supreme Court pushing back its own hearings to July 20 on a plea made by the US e-commerce giant against a Delhi high court order on the Reliance-Future deal.
The arbitration proceedings between the two parties will reportedly begin on July 12. In October, the Emergency Arbitrator (EA) of the Singapore International Arbitration Centre in an interim award restrained Future Retail Ltd from going ahead with its Rs 24,713 crore deal with Reliance Retail.
Earlier this year, a three-member arbitration panel was formed that included Michael Hwang, Albert Jan van den Berg and Jan Paulsson.
On Thursday, the apex court said it will hear on July 20 the Amazon plea against the Delhi high court verdict which stayed the directive by its single-judge and paved the way for the Reliance-Future deal.
A bench of Justices R.F. Nariman, K.M. Joseph and B R Gavai was informed by senior advocate Harish Salve, appearing for the Future group, that the Singapore tribunal will commence hearing on the matter from July 12.
While Salve requested the proceedings on the appeals be adjourned for a week, senior advocate Gopal Subramanian, appearing for Amazon, said he had no problem if the court pushed back the hearings by seven days.
Amazon had moved the apex court on April 8 challenging the Delhi high court's division bench order of March 22 by which it had vacated a stay on the Future Group proceeding with the deal with Reliance.
On February 22, the Supreme Court had asked the National Company Law Tribunal not to pass the final order on the amalgamation.
In its suit before the single judge of the Delhi high court for enforcing the award in Singapore, Amazon has sought to restrain Future Retail from taking any steps to complete the transaction with entities that are a part of the Mukesh Dhirubhai Ambani (MDA) Group.
It had also sought detention of the Biyanis, directors of FCPL and FRL and other related parties in civil prison and attaching of their properties for alleged "wilful disobedience" of the order.
