InvestorQ : Why did the Delhi High Court strike down the petition of Future Group and what does that imply?
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Why did the Delhi High Court strike down the petition of Future Group and what does that imply?

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Juvina Maggie answered.
4 months ago
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This would got down as a setback to the Future group. The Delhi High Court, along largely expected lines, refused to interfere or drawn into the likely pronouncement of the order by the Singapore International Arbitration Centre (SIAC). Delhi Court clarified that it would not want to encroach on the functioning of the SIAC, which is a legitimate legal course and has been accepted by both the parties to the contract. Future group cannot wish it away.

It may be recollected that the Future group had moved to terminate the arbitration proceedings at the SIAC. However, that petition has now been struck down by the Delhi High Court. Earlier, after the Reliance Retail Future group deal, Amazon had sought arbitration SIAC since Future Group had not given ROFR to Amazon. CCI may have suspended approval to the deal, but the latest order is a new problem for bankers.

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