Amazon to face caveat petitions filed by Future Group in Delhi High Court

The Kishore Biyani owned Future Group filed two caveat petitions in the Delhi High Court against the retail giant Amazon. The petition can be seen as a precautionary step to ensure a chance to be heard if Amazon files a case over the deal.

The Kishore Biyani owned Future Group filed two caveat petitions in the Delhi High Court against the retail giant Amazon. The petition can be seen as a precautionary step to ensure a chance to be heard if Amazon files a case over the deal.

The caveat petition is incorporated under Section 148A of Civil Procedure Code, 1908 which is a “precautionary measure taken by a person who holds a strong fear or uneasiness that some or the other case against him/her is going to be filed in the court of law regarding any manner.”

This comes after Amazon took the matter to Singapur arbitrator where it won an injunction to halt the Future-reliance deal. While Future Retail argued that it had “complied with all agreements and cannot be held back” by the arbitration proceedings.

The whole conspiracy comes after the deal in August, where Reliance Retail Ventures, a unit of RIL agreed to buy the retail assets of the Future Group.

Amazon alleged that it had a contract with Future retail that prevents some listed companies from buying a stake in the company. The list includes Reliance, which is growing rapidly in the Indian Retail market and had received several investments from the market.

On October 31, in a letter to the Securities and Exchange Board of India (SEBI), Amazon India had complained that Future Retail misled the shareholders by saying it was complying with its contractual obligations with Amazon. However, Future Retail denied all the allegations.

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