MUMBAI: In a major relief to Future Group, the Delhi High Court on Wednesday stayed Amazon’s arbitration proceedings at the Singapore International Arbitration Center against the Kishor Biyani-led group.
The court has also stayed the single judge bench of January 4. count Which dismissed Future Group’s plea to quash the arbitration proceedings initiated by Amazon in the Singapore Tribunal.
The High Court has issued notice to Amazon and will now hear the petition of Future Group on February 1.
A bench headed by Justice DN Patel said, “Many arguments have been made from both the sides including maintainability. We will deal with all these issues on a refundable date. In the meantime, we will approach the arbitral tribunal till the next date of hearing.” Stay the proceedings. We also stick to the order of the Single Judge. If no stay is granted, it will cause irreparable harm to the appellants.”
Future Group, in its petition, had challenged the Delhi High Court order dismissing its plea to quash the arbitration proceedings initiated by Amazon.
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