JOIN USAmazon, Future Group agree to talks to resolve dispute
In a fresh development, Amazon Inc on Thursday proposed before the Supreme Court to hold talks with Future group to resolve its dispute saying "whirlpool of litigations" was being dragged too long.
A three-judge bench presided over by Chief Justice N V Ramana said it was a good sign if parties involved in the matter are willing to amicably settle the dispute through informal dialogues.
The court gave both the parties time till March 15 as they agreed to explore talks to resolve the 18-month-old legal battle over Future Retail's move to sell its retail assets to Reliance Retail for Rs 24,500 crore. The bench also asked the courts to withhold from pronouncing the order in the matter, in order to allow the parties to have a dialogue.
It noted that the proceedings are going on before the National Company Law Appellate Tribunal (NCLAT), and the Delhi High Court.
Amazon, which had acquired an indirect minority stake in Future Group in 2019 for Rs 1,400 crore, challenged Future Group’s merger deal with Reliance Retail. The fight between Future Group and Amazon has been on since October 25, 2020.
On Thursday, senior advocate Gopal Subramanian, appearing for Amazon, submitted before the bench, "We've always believed there can be other resolutions to a matter... Let us put our heads together."
"I am presenting a solution...Throughout we have always been willing to have a dialogue, a conversation. There can be other resolutions to a matter. Is it not a whirlpool? Facing one statutory authority barely because we went through an arbitration. Let us put our hands together and find a solution,” he said.
He proposed talks with Future Retail and Future Coupons, to end the logjam, as the business houses are embroiled in legal battles at various fora.
Senior advocate Harish Salve, representing the Future group, quipped, "Amazon gods will have to come down to talk to us mortals."
He said, "If Amazon wants to have a conversation, what is preventing its boss from calling up Biyanis (Future Group Chairman Kishore Biyani)?"
Salve maintained in this legal battle nobody is winning.
On this, the bench, also comprising Justices A S Bopanna and Hima Kohli, told Salve, "Instead of saying they should pick up the phone and call, why don't you facilitate that to happen?"
Salve said he has no issues with it.
Taking note of the submission, the bench posted the matter for consideration on March 15.
"If you can find out some solution, tell us, or we will hear and pass orders," the bench told the counsel.
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