Delhi HC to hear Amazon-Future case on Monday
The Delhi High Court ruled to adjourn the ongoing Amazon and Future Group dispute to a hearing on February 28 as the National Company Law Tribunal sets its hearing for March 4.
On February 24, the Delhi High Court concluded a session of over two hours hearing arguments from lawyers from both sides of the Amazon and Future Group dispute by adjourning the matter to Monday, the Economic Times reported. The dispute has lasted over 18 months and is due to Amazon’s opposition to Future Retail Limited’s plan to hold a shareholder meeting to get clearance for its plan to sell some of its assets to Reliance Retail.
The National Company Law Tribunal will also hold its next hearing for a number of combined cases between Amazon and Future Retail on March 4, ET Retail reported. Future Retail had also approached the National Company Law Tribunal for permission to hold the proposed shareholder meeting but Amazon stated that it opposes the meeting as it claims this is a violation of its investment agreement in a promoter firm of Future Retail Limited.
The drawn-out case has been passed between the Delhi High Court and Supreme Court as the two retail heavyweights continue their dispute. The senior lawyer representing Future Retail Limited, Harish Salve, asked the Delhi High Court to allow the National Company Law Tribunal to carry out its remaining proceedings.
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