Delhi HC restrains Amazon from writing to regulators

The Delhi High Court has declined to allow Amazon from making representations to various Indian statutory authorities such as the SEBI, CCI and others that objected to an assets sale deal between Kishore Biyani-led Future Retail Ltd (FRL) and Reliance Retail.

The Court said that though a prima facie case was made out by FRL for grant of interim injunction, the balance of convenience lies in favour of both FRL and Amazon.

In its plea, FRL accused Amazon of interfering with its assets sale deal with Reliance by writing to various regulatory authorities about an order passed by the Singapore International Arbitration Centre (SIAC) on October 25, 2020 restraining FRL from taking any steps to transfer its retail assets.

Amazon has 49 per cent stake in Future Coupons Pvt. Ltd. (FCPL) that has 9.82 per cent stake in FRL.