Future group subsidiary Future Coupons has moved the Supreme Court today, challenging the Delhi HC order on the Reliance-Future group deal. The SC judgment had revived the Single Judge Bench order that directed the attachment of Future Coupons, Future Retail, Future group promoter Kishore Biyani's assets.
Through the current petition, Future Coupons is likely to seek a stay on the Single Judge Bench order, which directed the attachment of assets. Future Coupons will also seek a stay of the HC order, which issued a show-cause notice for civil arrest of Biyani, and other Future directors.
The Supreme Court last week had upheld e-commerce giant Amazon's plea seeking a hold on the Rs 24,713 crore deal between Reliance Retail and Future Retail. The SC said the Singaporean arbitrator's decision that stalled the deal between the two retail giants holds merit and Amazon's objections are valid as well as applicable in the country.
Also read: Singapore's emergency arbitrator held Future Retail investment 'legal': Amazon in SC