Future Group Reliance Retail Deal Delhi HC Stays Status quo order2 min read

BY:AYUSH PRATAP SINGH

The Group of Companies Doctrine can’t be invoked the division bench said. Prima Facie, it said, the three agreements are different. Prima facie, there was no reason to seek a status quo order before the single bench.

On Monday, stayed the operation, execution, and implementation of a single judge-bench order to which last week directed the future group to maintain status quo with the regard to its deal with Mukesh Ambani led Reliance Retail and said that statuary authorities like Sebi, CCI, and NVLAT should not be restrained from the proceedings following the Law.

The division bench of Chief Justice D N Patel and Justice Jyoti Singh said that Future Retail Ltd is not a party to an agreement between Amazon and Future Coupons Pvt Ltd and that in the agreement between Reliance Retail Ltd and FRL, Amazon is not a party. In its order, the bench also noted that FRL has an agreement with the FCPL.

The Group of Companies cannot be invoked

  • The Group of Companies cannot be invoked as said by the Divison Bench.
  • The Prima Facie said the three agreements are different.
  • The prima there was no reason to seek the status before the Single Bench.
  • While directing, the Future Group t place on record the actions by it after the date of Emergency Arbitrator which is being awarded by the Singapore International Arbitration center SIAC and the present status of all those actions.
  • The single Judge Bench on February 2 had directed all authorities to maintain a status quo concerning all the matters.
  • The matters regarding the violation of the October 25, the year 2020 order of the EA by which the Future Group was restrained from the proceedings with its deal with entities part of Mukesh Dhirubhai Ambani MDA group.

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