After Amazon's Win, Future Goes To Supreme Court To Stop Asset Freeze

Future Coupons has asked the top court to stop the attachment of assets of Future Coupons, Future Retail and Kishore Biyani, challenging a single-judge ruling of the Delhi High Court.

Days after a setback in the Supreme Court that ruled in favour of its discordant partner Amazon, the Future Group has approached the Supreme Court against the seizure of assets belonging to the company and its founder Kishore Biyani. Future Coupons has asked the top court to stop the attachment of assets of Future Coupons, Future Retail and Kishore Biyani, challenging a single-judge ruling of the Delhi High Court. Handing Amazon a major victory in a dispute where it sought to block Future Group from selling $3.4 billion in assets to rival Reliance Industries, the Supreme Court had backed an order by a Singapore tribunal and also revived the high court order on the attachment of assets. The Delhi High Court in March had ruled Mr Biyani and Future had deliberately and wilfully violated the Singapore tribunal order and imposed a fine of Rs 20 lakh on them, payable to the Prime Minister's Relief Fund.