MUMBAI: The senior counsel for Amazon, whose application for interim relief is being heard by the Delhi HC, reportedly asked for Reliance to be made a party to the hearing, which involves the e-commerce giant praying against Future Retail‘s alleged alienation of its assets and seeking status quo.
The hearing on this matter will continue next week, those present in court told TNIE.
Amazon alleges FRL colluded with Reliance to transfer 835 stores to the latter in February, despite an injunction against the transfer or sale of its assets being passed by a Singapore Arbitral Tribunal and assurances given to the SC by FRL that no prejudice would be caused to Amazon while approval for a Rs 25,700 cr deal with RIL was being sought by Future Group’s shareholders and creditors.
The deal was called off by both FRL and Reliance as creditors voted against the same earlier this month. FRL owes Rs 29,000 cr to creditors. Bank of India has already initiated insolvency proceedings against FRL and a hearing on admission to insolvency court will be reportedly heard by NCLT next month.
Amazon Vs Future Group case
Bank of India has already initiated insolvency proceedings against FRL and a hearing on admission to insolvency court will be reportedly heard by NCLT next month