Delhi HC asks Future Group to keep status quo on Reliance deal

Chennai: In a major relief for Amazon, the Delhi High Court on Tuesday asked Future Retail Ltd (FRL) to maintain status quo with respect to its Rs 24,713- crore deal with Reliance Retail till the pronouncement of its reserved order. Justice J. R. Midha said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon.

“Respondents (FRL) and other respondents are directed to maintain status quo as on today at 4:49 PM till pronouncement of the reserved order,” the judge said.

Amazon had filed a petition under Section 17(2) of the Arbitration and Conciliation Act 1996 for enforcement of the order by the Emergency Arbitrator, Singapore International Arbitration Centre, restraining Future Group from proceeding with the deal.