The Supreme Court has deferred to June 28 hearing the dispute between Amazon and Future dispute as it attends to cases related to Covid-19 pandemic, Mint reported on Wednesday.
“The Supreme Court feels this case be kept on hold until the surge in covid-19 cases is contained. Cases related to oxygen supply to hospitals, provision of covid beds, vaccines and medicines are more urgent,” Mint quoted a person close to the matter.
The top court was scheduled to hear the case between US-based e-commerce giant Amazon and Kishore Biyani’s Future Group over the Rs 24,713 crore deal between Future and Reliance Industries Ltd on Tuesday.
The delay may come as a temporary setback for Amazon since it will give Future Group and RIL two more months to work towards their proposed deal and realign operations, restructure businesses and transition Future Group’s staff and retail stores such as Big Bazaar and fbb.
The Supreme Court has so far not stopped Future Group and RIL from working towards the deal.
“The top court wants to focus its attention and resources only to resolve “super-urgent” cases for the time being until the wave of this raging pandemic recedes,” it quoted a second person as saying.
According to the people Mint quoted, the Singapore International Arbitration Centre (SIAC) may conduct its own hearing in the meantime and pass the final arbitration award before India’s top court hears the matter. Business Standard