US-based e-commerce giant Amazon has moved the Supreme Court, challenging the Delhi High Court’s division bench order that allowed Kishore Biyani-promoted Future Group to proceed with its ₹24,713 crore asset sale deal with Reliance Industries Ltd.
In its petition, Amazon has termed the high court’s 22 March division bench order as “illegal”, “random”, inequitable and unfair, while asking the apex court to grant a stay on the order to prevent Amazon from suffering an “irreparable” damage in its business in India.
“The (Future) group had earlier unequivocally stated that they will continue to take steps to complete the impugned transaction (the Rs. 24,713 crore deal with RIL). The greater the progress made towards the completion of the impugned transaction, the harder it will be to unravel it. Over time, the interests of additional third parties may also become entwined with the impugned transaction and be subsequently compromised. Further, irreparable harm will be caused to the petitioner (Amazon),” said the Amazon petition filed on Wednesday evening.
Surjitt Sahani
