Thread by @barandbench

Delhi High Court begins hearing Future Retail's suit against Amazon in relation to the emergency arbitrator award stalling its deal with Reliance Retail.

#FutureRetail #Amazon #Reliance

Suit is listed before Justice Mukta Gupta.

Senior Advocate Harish Salve for Future Retail will make his rejoinder submissions.

#Amazon #FutureRetail #Reliance

Let me deal with the specific points. Let me clarify why the suit has been filed : Salve

There is a transaction that Amazon is aggrieved of and they say that it is in breach of the contract: Salve

According to Amazon, FRL is demerging.. it is not prohibited. Amazon went to emergency Arbitrator for this : Salve

You are interfering with my lawful business: Salve

Let's see what is my plaint : Salve

Salve reads the plaint.

one of the steps of your assertion is that I have committed a civil offence under FEMA: Salve

There are two distinct parts. It is not an anti Arbitration suit : Salve

While the emergency order has no efficacy in law, I am entitled to ignore it : Salve

I am subject to Indian Courts. If a gentleman sitting in Singapore says something, I can bin that order. It is not to show any disrespect. I'm saying as a matter of law : Salve

There is no dispute that the Resolution on the transaction with Reliance was passed by FRL in August: Salve

Salve continues to read the plaint.

If Amazon had come as a Foreign Portfolio Investor in FRL, it would not have been 10%: Salve

If you have less than 10%, you don't have protective rights rights: Salve

Amazon is not even a minority shareholder in FRL. How can there be rights conferred upon him ? : Salve

There is difference between acting on concert and minority rights protection: Salve

If he claims that he is acting in concert with the promoters, he is directly and indirectly controlling 51% is FRL : Salve

Amazon doens't claim it is controlling 51%: Court