SC asks NCLAT to decide on Amazon's plea on Future Coupons deal
The Supreme Court on Wednesday asked the National Company Law Appellate Tribunal (NCLAT) to expeditiously decide the Amazon’s appeal against the Competition Commission of India’s December 17 order which kept in abeyance its nod for the e-commerce giant’s 2019 deal with the Future Coupons (FCPL).
A three-judge bench presided over Chief Justice N V Ramana noted that the Amazon’s appeal against the Delhi High Court order that stayed arbitration proceedings initiated by the e-commerce firm against Future Group before the Singapore International Arbitration Centre was connected with the CCI’s order.
"Therefore, the outcome of the NCLAT’s decision becomes important for any further determination of the issue," the court noted.
Since the NCLAT is scheduled to hear the Amazon’s case on the anti-trust regulator’s decision on February 25, the top court deferred the matter for further consideration on March 3.
After hearing both the sides, the bench felt that it was better if proceedings in the NCLAT are expedited as the outcome of its decision will have bearing on other cases.
Senior advocate Gopal Subramanium, appearing for Amazon, said that it is in the best interest of all if the arbitration proceedings initiated by Amazon against Future Retail over the latter’s Rs 24,500-crore merger deal with Reliance Retail are concluded expeditiously.
Appearing for Future Coupons, senior advocate Mukul Rohtagi, said the HC had halted the arbitration proceedings in view of the CCI’s order, the fate of which as of now remained uncertain.
On January 5, the Delhi High Court stayed further arbitration proceedings between the parties before the Singapore tribunal.
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