FUTURE ASKED TO GET STAY OR COMPLY

New Delhi, Aug. 17: The Delhi High Court on Tuesday said it will implement the single-judge order restraining Future Retail Ltd (FRL) from going ahead with the Rs

24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based ecommerce giant Amazon, in case no stay is obtained from the Supreme Court within four weeks.

Justice Suresh Kumar Kait, hearing Amazon's plea for enforcement of the award by Singapore's Emergency Arbitrator (EA) restraining FRL from going ahead with the deal, said that in the absence of any stay from the apex court, he has no option but to enforce the order passed by Justice JR Midha on March 18.

Either get a stay within 23 weeks on March 18 order or comply with the order.

This court has no third option, the judge said.

Listing the matter for further hearing on September 17, the court said: I make it clear that if before the next date of hearing the respondents fail to get any stay order, this court shall proceed with the matter for implementation of the order dated 18.03.2021.

Senior advocate Parag Tripathi, representing Future Coupons Pvt Ltd (FCPL) and other related parties, said that a special leave petition against the March 18 order has already been filed before the Supreme Court by his clients.

Senior advocate Darius Khambata, representing FRL, said his client has moved an application before the arbitration tribunal and will also file an appeal before the apex court.