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Delhi HC to hear Amazon plea to detain Future Group founders today
In its plea, Amazon has sought enforcement of the Singapore arbitrator’s ruling in October against its partner Future’s ₹24,713 crore deal with Reliance
The Delhi high court on Thursday will hear a plea by US online retailer Amazon seeking the detention of Future Group founders, including CEO Kishore Biyani, and seizure of their assets as it seeks to block Future Group from selling retail assets to Reliance Industries.
In its plea, Amazon has sought enforcement of the Singapore arbitrator’s ruling in October against its partner Future’s ₹24,713 crore deal with Reliance. It has also sought that the Biyani family be directed to “disclose their assets, including movable and immovable property” and the same be attached.
The plea has also sought “detention” of Biyani, his daughter Ashni and seven other members of the founder family as well as three other officials, including a company secretary of the group.
Also Read: Amazon tries to block Future’s asset sale to Reliance after regulatory approval
Amazon, which wants the deal to sell retail assets to Reliance to be stopped, also asked the court for a direction for “detention of the directors (of Future Group entities) in civil prison”.
In the petition, Amazon has said the interim injunctions granted by the Emergency Arbitrator (EA) are enforceable under the Indian laws under the Arbitration and Conciliation Act as the order is deemed to be an order of the court and is enforceable under the Code of Civil Procedure.
Amazon has prayed that the court issue an injunction against the Future Group, in light of the directions passed by the EA, from relying upon any approval granted by any regulatory body or agency in India arising out of any application initiated or pursued by them.
