The Supreme Court on Thursday stayed for four weeks the proceedings in the dispute between Amazon and Future Retail Limited pending before the Delhi high court.

The apex court ordered a stay on the enforcement of the emergency arbitrator’s order by the high court.

The order comes as a huge relief for Future Retail Limited (FRL) which is challenging the emergency arbitrator’s order before the Singapore tribunal.

The bench of Chief Justice of India N.V. Ramana and Justices Surya Kant and A.S. Bopanna also directed the National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and Securities and Exchange Board of the India (Sebi) not to pass any final order in relation to the dispute for four weeks.

“Nothing will happen in four weeks. Issue notice. Taking into consideration the challenge to Emergency Arbitrator award is pending before tribunal under SIAC Rules,” the court noted. SIAC stands for Singapore International Arbitration Centre.

The court was hearing a plea filed by Future Coupons Private Limited against a Delhi high court single judge order which had put on hold Future Group’s deal to sell its retail assets to Reliance Retail in a Rs 24,713-crore deal.

Prima facie, agreeing with the arguments of senior advocate Harish Salve appearing for FRL that the impugned order was passed without hearing the company the bench said “in a matter of this magnitude” both parties ought to be given a fair hearing.

However, senior advocate Gopal Subramanium appearing for Amazon countered Salve to argue that the single judge had heard elaborate arguments of the two parties and had only thereafter passed a reasoned judgment on March 18.

Salve said the high court’s single-judge order went beyond the scope of EA’s award and had the effect of prejudging the issues which are pending final adjudication before the SIAC.

“I have an arbitration pending. I have taken a defence that I have not breached any agreement. The single judge says admittedly the Respondents have breached the agreement,” he said.

Mukul Rohatgi representing Future Coupons Private Limited (FCPL) said the single-judge order was procedurally flawed as the attachment order was passed without affording any opportunity of hearing to FCPL and its directors.

Both sides apprised the bench about the chronology of events in the high-profile case.

Amazon dragged the Future group to arbitration at the Singapore arbitration centre in October last year, arguing that FRL had violated their contract by entering into the deal with the retail arm of rival Reliance Industries.