Talks between Amazon and Future Retail, aimed at resolving a long-running dispute over whether Future’s retail assets can be sold to Reliance Industries, have failed, lawyers for the companies told the Supreme Court on Tuesday.
Both Amazon and Future said they would like to resume arbitration proceedings in Singapore, which the Delhi High Court had put on hold. The Supreme Court said it would hear arguments from Amazon on Wednesday and decide on the matter.
Earlier in the day, Amazon had said the transfer of hundreds of Future Retail stores to Reliance over the past fortnight had been done in a “clandestine manner”, and violated orders of Indian courts and the Singapore arbitrator, which had restrained Future Retail from parting with its assets.
“The actions have been done in a clandestine manner by playing a fraud on the constitutional court of India, the arbitral tribunal and Indian statutory authorities/agencies,” Amazon.com NV Investment Holdings LLC said in public notice placed in newspapers on Tuesday.
“Amazon hereby puts all persons concerned to notice that any attempt by FRL and its promoters to transfer/dispose/alienate any of its retail assets is in violation of binding orders of the arbitral tribunal which operate as orders of an Indian court and any party assisting or cooperating in such fraudulent and contumacious actions will be liable for civil and criminal consequences under law,” the notice read.
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