Shops will close just because this fat American company wants to make money: Salve

Future Retail Ltd has said in the Delhi High Court that Amazon has filed its petition seeking implementation of the emergency award for “collateral purposes”.

“This order has been there for over two months. It is a desperate attempt to get some observation from the court,” senior counsel for Future Retail, Darius Khambata, told the single-judge bench of Justice J.R. Midha, the Bar and Bench reported.

The emergency award in question had restrained Future Group from going ahead with the deal with Reliance Retail.

Khambata contended that the present petition, which seeks enforcement of the emergency award under Section 17(2) of the Arbitration & Conciliation Act, was not maintainable, as per the report.

It was asserted that only an order of a final arbitral tribunal could be enforced under Section 17(2) and not an emergency award, which was completely distinct in nature.

Read More: https://www.bhaskarlive.in/shops-will-close-just-because-this-fat-american-company-wants-to-make-money-salve/