The Delhi High Court Tuesday said it will implement the single-judge order restraining Future Retail Ltd (FRL) from going ahead with the Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon, in case no stay is obtained from the Supreme Court within four weeks.
Justice Suresh Kumar Kait, hearing Amazon’s plea for enforcement of the award by Singapore’s Emergency Arbitrator (EA) restraining FRL from going ahead with the deal, said that in the absence of any stay from the apex court, he has no option but to enforce the order passed by Justice JR Midha on March 18.
“Either get a stay within 2-3 weeks on March 18 order or comply with the order. This court has no third option,” the judge said.
Listing the matter for further hearing on September 17, the court said: “I make it clear that if before the next date of hearing the respondents fail to get any stay order, this court shall proceed with the matter for implementation of the order dated 18.03.2021.”