Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • IPL 2020
    • Today’s Pic
  • GamesNew
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • IPL 2020
    • Today’s Pic
  • GamesNew
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
Home Business

Amazon moves Delhi High Court; seeks arrest of Kishore Biyani, stopping of Reliance deal

PTI
Updated: January 25th, 2021, 21:23 IST
in Business, Top Stories
0 0
0
Amazon

Photo courtesy: politico.in

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: US online retailer Amazon has filed a petition in the Delhi High Court. The petition is seeking detention of Future Group founders, including CEO Kishore Biyani, and seizure of their assets. Amazon is trying to block Future Group from selling retail assets to Reliance Industries. In the petition, Amazon sought enforcement of the Singapore arbitrator’s ruling in October against its partner Future’s Rs 24,713 crore deal with Reliance.

Amazon sought the Biyani family to be directed to ‘disclose their assets, including movable and immovable property’ and the same be attached.         Also, it sought ‘detention’ of Biyani, his daughter Ashni and seven other members of the founder family as well as three other officials including a company secretary of the Group.

Amazon wants the deal to sell retail assets to Reliance to be stopped. It also asked the court for a direction for ‘detention of the directors (of Future Group entities) in civil prison’.

Biyani had previously stated that he was forced to strike a deal with Reliance. This happened after Future Group sought help from Amazon to wriggle out of piling debt burden wasn’t forthcoming.

The petition by Amazon comes just days after the Future-RIL deal received the nod from market regulator SEBI and bourses.

In the petition, Amazon has said the interim injunctions granted by the Emergency Arbitrator (EA) are enforceable under the Indian laws under the Arbitration and Conciliation Act as the order is deemed to be an order of the Court and is enforceable under the Code of Civil Procedure.

Amazon has prayed that the Court issue ‘an injunction against the Respondents (Future group), in light of the directions passed by the EA, from relying upon any approval granted by any regulatory body or agency in India arising out of any application initiated or pursued by the Respondents, contrary to the directions in the Order, including without limitation, the no objection granted by the SEBI and as also approvals granted by the BSE, NSE and CCI’.

The interim ruling by the Singapore International Arbitration Centre (SIAC), which was valid till January 23, now stands extended till further modification.

“… in view of the constitution of the Arbitral Tribunal, the Order stands automatically extended for the duration of the Arbitration Proceedings unless it is reconsidered/ modified/vacated by the Arbitral Tribunal,” the petition said.

Amazon pointed out that since no application for reconsideration/ modification/ vacation of the order has been preferred till date by any party, the order stands automatically extended. However, Amazon declined to make any official comment.

Future Retail, in a regulatory filing, said it would defend the matter through its legal counsels. “We would like to inform that the Company is in receipt of communication dated 25th January 2021 from lawyers of Amazon.Com NV Investment Holdings LLC informing that Amazon has filed a petition under Section 17(2) of Arbitration and Conciliation Act, 1996 before High Court of Delhi. We shall defend the matter / proceedings through our legal counsels and keep you informed about outcome of the same,” said Future Retail.

 

Tags: AmazonBSEFuture GroupHigh CourtKishore BiyaniReliance IndustriesRETAIL
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

Related Posts

Kuakhai LHS bridge closed till May 2 for repair work

Kuakhai LHS bridge closed till May 2 for repair work

March 2, 2021
Officials take measurements near Subarnarekha

Officials take measurements near Subarnarekha

March 2, 2021
Similipal is burning

Similipal is burning

March 2, 2021

Odisha all set to conduct OBC survey from May 1

March 1, 2021

Supreme Court notice to Odisha govt on plea challenging fee waiver

March 1, 2021
GST

GST collections cross Rs 1 lakh crore for 5th month in a row, rise  to Rs 1.13 lakh crore in February

March 1, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

250+ Trending Games - Play Now
OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

Plastic Free Odisha

Debashish Mohanty-Former Indian Cricketer

Cricketer Debashish Mohanty supports  a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

August 30, 2018
Plastic Free Odisha

Archita Sahu, Actress

Archita Sahu support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Cuttack New Stewart School Students & Principal

Cuttack New Stewart School students and Principal call for a Plastic Free Odisha. Do you support the movement? *Visit our website ...

August 29, 2018
Plastic Free Odisha

Balibil Nodal School students

Balibil Nodal School students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

October 2, 2018
Plastic Free Odisha

Samanta Singhara Nodal High School students

Samanta Singhara Nodal High School students of Balia, Jajpur support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend ...

October 2, 2018
Plastic Free Odisha

Cuttack College NCC students

Cuttack College NCC students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Tanbhi Block School students and staff

Tanbhi Block School students and staff support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Miteish Khimji,Entrepreneur

Miteish Khimji supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Elina Samantray, Actress

Elina Samantray calls for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 29, 2018
Plastic Free Odisha

Bridge school students

Bridge school students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

October 2, 2018
Plastic Free Odisha

Govinda Poddar-Odisha Ranji Team Captain

Govinda Poddar, Odisha Ranji Team Captain  calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website ...

August 30, 2018
Plastic Free Odisha

Gandhi College Plus III science students of Khandagiri, Bhubaneswar

Gandhi Plus III science students of Khandagiri, Bhubaneswar support a plastic free Odisha. Do you?   *Visit our website orissapost.com. ...

October 2, 2018
Plastic Free Odisha

Nayagarh Girls’ High School

Nayagarh Girls’ High School students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack call for a Plastic Free Odisha. Do you support the movement? *Visit our ...

August 29, 2018
Plastic Free Odisha

Actress Bhoomika Dash

Actress Bhoomika Dash calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

Sri Aurobindo School students & teachers

Sri Aurobindo School students & teachers of Sambalpur support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

October 2, 2018
Plastic Free Odisha

Anubhav Mohanty, Actor

Anubhav Mohanty supports call for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook ...

August 29, 2018
Plastic Free Odisha

Utkal University Journalism Department Students

Utkal University Journalism Department students call for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend ...

August 29, 2018
Plastic Free Odisha

Unit III Bharat Scouts and Guide

Unit III Bharat Scouts and Guides team call for a Plastic Free Odisha. Do you support the movement? *Visit our website ...

August 29, 2018
Plastic Free Odisha

Sundargarh Public School teachers

Sundargarh Public School teachers support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Korei college students

Korei college students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

October 2, 2018
Plastic Free Odisha

Gandhi Science Higher Secondary School in Khandagiri, Bhubaneswar

Gandhi Science Higher Secondary School students of Khandagiri, Bhubaneswar support a plastic free Odisha. Do you?   *Visit our website ...

October 2, 2018
Plastic Free Odisha

Swaraj Barik, Actor

Swaraj Barik calls for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 29, 2018
Plastic Free Odisha

Srikumar Misra-Entrepreneur

Srikumar Misra supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Bhubaneswar Bar Association Lawyer Liberty Trust

Bhubaneswar Bar Association Lawyer Liberty Trust supports plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Deepak Kumar-Actor

Deepak Kumar support a Plastic Free Odisha. Do you support the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 30, 2018
Plastic Free Odisha

BJB Autonomous College-Bhubaneswar

BJB Autonomous college students support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018
Plastic Free Odisha

Hockey Player Dilip Tirkey

Hockey Player Dilip Tirkey supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018
Plastic Free Odisha

IMT Pharmacy College-Puri

IMT Pharmacy College students call for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend ...

August 30, 2018
Plastic Free Odisha

Naveen Jindal-Enterpreneur

Naveen Jindal support a Plastic Free Odisha. Do you?  *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your Photos/Selfie ...

August 30, 2018

Archives

Editorial

Lamenting Cylinder

Representational image
March 2, 2021

LPG cylinder price has shot up by Rs 100 within a month, touching Rs 845 in the East Zone, with...

Read more

Wipe Out Blemish

File photo of climate activist Disha Ravi
March 1, 2021

The vitriolic criticism by some social media users, directed against additional sessions judge of a Delhi court Dharmender Rana, has...

Read more

Whither rights

February 28, 2021

The Washington Post’s editorial board has written that India’s claim of being a democracy should be put in question. This...

Read more

8 IFS officers to be empanelled as JS

February 27, 2021

The Ministry of External Affairs (MEA) has been quite keen to add more joint secretaries to the diplomatic pool to...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Sports
  • Sci-Tech
  • About Us
  • Advertise
  • Contact Us
  • Career
Developed By Ratna Technology

© 2020 All rights Reserved by OrissaPOST

  • Home
  • Metro
  • State
  • National
  • International
  • Business
  • Entertainment
  • Sports
  • Feature
  • Opinion
  • Sci-Tech
  • COVID-19
  • Games
  • IPL 2020
  • Today’s Pic
  • About Us
  • Contact Us
  • Career
  • Facebook
  • Twitter

© 2020 All rights Reserved by OrissaPOST

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Facebook
OR

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In