HomeBUSINESSAmazon moves Delhi High Court seeking detention of other Future Group directors

Amazon moves Delhi High Court seeking detention of other Future Group directors

It is alleged that he violated the gemstones and obligations of the binding agreements made by Future Group, in particular due to the proposed transaction related to the transfer of Future Retail goods to the Mukesh Ambani group.

Amazon’s largest commercial company on Monday filed a lawsuit against the Delhi High Court for “intentionally violating and violating” the SIAC emergency mediator award by Kutual Group led by Kishore Biyani.

It has also asked and demanded for the arrest of Biyani and also the other directors of Future Retail, Future Coupons, Future Coupons Resources and Akar Estate and public finances for violating an interim mediator award that had terminated the $ 3.4-billion Future Group agreement to sell its assets selling the Reliance Industries.

The party, in furtherance of its agreement, the e-commerce giant in its new application has also urged HC to stop Future Retail from dividing and securing the rights of third parties to its assets. It also asked for the HC direct Future Group, including Biyani, in order to disclose their assets and demand that their assets to be attached.

Amazon moves Delhi High Court seeking detention of other Future Group directors
Amazon moves Delhi High Court seeking detention of other Future Group directors

It is alleged that he violated the gemstones and obligations of the binding agreements made by Future Group, in particular due to the proposed transaction related to the transfer of Future Retail goods to the Mukesh Ambani group.

SIAC on October 25 had passed an interim order in favor of Amazon barring Future Retail from taking any action to dispose of or consolidate its assets or to withdraw any securities to obtain any subsidy from the restricted group.

Temporary penalties imposed on emergency interventions are equally enforceable as if it were a court order, he said, adding that it is shocking to see that Future Retail and others have disregarded those laws and followed the law enforcement authorities / regulators to consent. transactions with the Ambani company in direct non-compliance with the order.

“Respondents’ simply disregard for the system and the continuation of unauthorized transactions is not only disappointing but also raises serious questions about their respect for contract enforcement, the law and the administration of justice, including the mediation process,” said Amazon, who owns 9.83% of Future Retail. his.

Shortly after receiving Amazon’s investment, Future Retail and others began to break their contractual obligations with impunity and again agreed to trade with Mukesh Dhirubhai Ambani (Reliance Industries) Group on August 29, 2020, which is in direct opposition to the e-company contract. commerce rights, said the complaint.

The Delhi High Court on January 13 issued notices to Future Retail, Kishore Biyani, Reliance Retail, and others on another Amazon application seeking the termination of a “basic consideration” made by a single judge’s Bench on its December 21 order allowing Future Group to continue its agreement with Reliance Retail agreement. with the consent of the relevant regulatory authorities.

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