In August, Kishore Biyani-headed retail conglomerate Future Group struck a Rs 24,713-crore asset sale deal with Mukesh-Ambani led Reliance Industries Ltd (RIL).
The lawyer for e-commerce giant Amazon on Friday told the Delhi High Court that the submissions by the legal counsel of Future Retail (FRL) are flawed because they overlook the premises of arbitration law. The counsel contended that arbitration is founded on the consent of parties and hence an agreement.
The Delhi High Court is hearing Future Retail's suit related to its deal with Reliance. It was recently halted by an Emergency Arbitrator of the Singapore International Arbitration Centre (SIAC) in favour of Amazon. The arguments from the legal counsels of the companies continued on the fifth day. The matter was heard by Justice Mukta Gupta. The arguments were heard in interim application and the judgment is reserved, according to
First Published: Nov 20 2020 | 9:11 PM IST