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Future Retail, Amazon file caveat petitions before Delhi High Court

Future Retail, Amazon file caveat petitions before Delhi High Court

New Delhi: Future Group and Amazon have filed separate caveat petitions before the Delhi High Court to avoid ex-parte orders over an interim award that has temporarily stayed the Future-Reliance deal.

Kishore Biyani-led Future Group filed a caveat petition before the Delhi High Court on November 2 requesting that it be heard if any plea is filed by the US e-commerce major.

"Let no order of any kind be passed... or any other petition and application, which may be filed by the petitioners/caveatee ( NV Investment Holdings LLC) against the respondent/caveator - Future Retail Ltd, without due notice under section 148A of the code of civil procedure," Future Group said in the caveat petition, a copy of which was seen by PTI.

A copy of the caveat petition has already been served to Amazon, it said.

"You (Amazon) are requested to give at least 48 hours notice before moving any petition under section 9 of the Arbitration & Conciliation Act or any other application against the proposed respondent/caveator," it added.

Sources said Amazon has also filed a caveat to ensure that the high court does not pass an adverse order without the company's plea being heard.

Amazon declined to comment on the development.

In August this year, Future reached an agreement to sell its retail, wholesale, logistics and warehousing units to Reliance in a Rs 24,713 crore deal.

Amazon had moved the Singapore International Arbitration Centre (SIAC) arguing that Future Group had breached their contract. Amazon, in 2019, had bought a 49 per cent stake in one of Future's unlisted firms, Future Coupons Ltd, with the right to buy into flagship Future Retail after a period between 3 and 10 years.

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