Amazon-Future row: Stop Future Retail from transferring assets, Amazon tells Delhi High Court : Rashtra News
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Amazon on Tuesday told the Delhi High Court that it should restrain Future Retail (FRL) from further transfer of assets until the arbitration before the Singapore tribunal over its dispute with the latter’s Rs 24,500-crore merger deal with Reliance Retail is over.
To get a favourable order, FRL all through assured the courts that it will not alienate or transfer its assets, including retail stores, till the NCLT sanctioned its merger scheme, but now claims “mysterious switch of transfer” of its 800 stores for unpaid rent dues, Amazon alleged before Justice Hari Shankar.
The HC has asked FRL and other parties to file their response to the enforcement petition and the fresh affidavit filed by Amazon and posted the matter for further hearing on April 12.
While arguing its enforcement petition and another plea with regard to preservation of FRL’s assets, senior counsel Gopal Subramanium, appearing for Amazon, told the judge that he was feeling “remediless” and “speechless” about how the Future Group group despite giving false undertakings before the courts had indulged in “misappropriation” of court orders.
Subramanium reiterated that that FRL’s claim of not being able to pay rentals for its stores was wrong as it had on February 18 paid $14 million interest to bond holders.
Alleging collusion between FRL and Reliance Retail, Amazon claimed that it was hard to believe that FRL surrendered its 800 stores without any protest.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.financialexpress.com feed.)
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