The Future group on Tuesday filed a caveat petition before the Supreme Court requesting it be heard if any plea is filed by Amazon.
A caveat is filed by a litigant to ensure no adverse order is passed against the party without it being heard. Sources close to the Future group confirmed this development.
On Monday, a division bench of the Delhi high court stayed an earlier order of a single judge asking Future Retail Ltd (FRL) and other statutory authorities to maintain status-quo with regard to the Rs 24,713- crore deal between the Future group and Reliance Retail. Following the order, the possibility of Amazon challenging the judgment in the apex court has not been ruled out.
The bench of Chief Justice D.N. Patel and Justice Jyoti Singh had passed the interim direction on FRL’s appeal challenging the February 2 order of a single judge.
It added that statutory authorities, like the National Company Law Tribunal, CCI and Sebi cannot be restrained from proceeding in accordance with the law on the deal. The bench also declined Amazon’s request to keep its order in abeyance for a week so that it can explore appropriate remedies.
Shares of FRL on Tuesday settled nearly 10 per cent higher at Rs 80.50 on the BSE. The Future Enterprises scrip was locked in the upper circuit filter at Rs 11.78 while Future Consumer closed 9.63 per cent higher at Rs 8.65.
Last month, Amazon had filed a petition in the Delhi High Court seeking enforcement of the interim order of the Emergency Arbitrator (EA) at the Singapore International Arbitration Centre (SIAC) that had restrained FRL from going ahead with the deal with Reliance.
