Amazon driving us to our knees, we're broke: Future Retail to Supreme Court
India Today
Amazon and the Future Group have been locked in a legal tussle after the US e-commerce giant dragged the latter to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020.
US e-commerce major Amazon told the Supreme Court on Tuesday that the talks with the Future Group to resolve the dispute over Future Retail's merger deal with Reliance Retail have failed and sought intervention to ensure that the stores of FRL are not taken over.
A bench headed by Chief Justice N V Ramana, on March 3, had acceded to Amazon's request and granted 10 days to it for exploring the possibility of resolving the dispute through dialogue with the Future Group.
The bench, also comprising justices A S Bopanna and Hima Kohli, is hearing Amazon's appeal against the January 5 order of the Delhi High Court, which stayed the arbitration proceedings before the arbitral tribunal over Future Retail's merger deal with Reliance Retail.
READ: Mukesh Ambani vs Amazon: How Reliance is winning game of thrones in Future retail dispute
"It often happens that sometimes, we hope very positively but in the end, it is not positive at all. The conversation was over and failed. Nothing is happening right now," senior advocate Gopal Subramanium, appearing for Amazon, said, adding that now it wanted arbitration to resume.
Taking note of the submission of the US firm that Reliance has been allegedly taking over the FRL stores and this be stopped, the bench granted Amazon the liberty to file an application, giving details of relief, and posted it for hearing on Wednesday.
"Amazon has been driving us to the knees and they have done so. We are broke. Nothing has been transferred. The rents have not been paid for over two years, we had no money, which is what we have been telling all forums. Our rent agreements are being terminated...," senior advocate Harish Salve, appearing for one of the Future Group firms, said.
