Future Retail gets relief from Delhi High Court

Kishore Biyani and his company Future Retail on Monday got relief from the division bench of the Delhi High Court which stayed the last week’s order of its single-judge bench holding them guilty for going ahead with the `24,713-crore deal with Reliance Retail. This is the second time that the division bench has stayed the order of its single judge with regard to the Future-Amazon dispute.

On March 18, Justice JR Midha had issued show-cause notice to Biyani and other directors of the Future Group asking why they should not be sent to prison, as sought by Amazon, which is opposing the deal and had filed the petition before the court. He had also directed the Future Group to approach regulatory authorities to recall all approvals granted to the Future-Reliance Retail deal and to deposit 20 lakh as cost for violating the Singapore’s Emergency Arbitrator’s interim stay order of October 25, 2020. The judge had also asked for attaching the assets of Biyani and other directors and asked them to appear before it on April 28.