Thread by @barandbench

#SupremeCourt to hear Amazon's plea against the January 5 order of the Delhi High Court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance @amazon @reliancegroup @FutureGroup

Sr Adv Gopal Subramanium: What a joy it is to be in court physically my Lord.

CJI: What is the status of the case?

Subramanium: Appeal is pending before NCLT. Pending that application has been filed to terminate arbitration proceedings. Evidence stage is over before the tribunal.

Subhramanium: Sooner the arbitration is over there will be expeditious disposal. The tribunal has been very accommodating. It is a tribunal of eminent people. Single judge has found that the tribunal has been very accommodating

CJI: Why cannot you ask the HC to decide the case expeditiously?

Subhramanium: Single judge decided it under article 227 plea. It has been held that a very high standard of bad faith has to be established for interference under 227. How can bad faith be there by tribunal

Subhramanium: The tribunal is also very conscious of the dignity of the process. It will be wrapped up quickly. I am sure the tribunal will make all efforts to end this.

Subhramanium: Joy of appearing in court physically is unparalleled. Though I have adapted to technology but this is unparalleled. I see the ladyship also on her laptop

Justice Hima Kohli smiles: Yes same here

Subhramanium: Tribunal is conscious that there is an application to terminate the proceedings.

CJI: If we hear you then proceedings before HC will become infructuous. Why can't we have the HC wrap it up

CJI: we are aware of the legal position.

Subhramanium: please see a portion of the order.

Justice AS Bopanna: if it's Article 227 you may have to argue before the division bench

CJI: It is just about a week more you see

Subhramanium: Please see Section 16 of the Arbitration Act. Arbitral Tribunal may rule on its own jurisdiction. Contract being invalid may not render the tribunal without jurisdiction and it's the tribunal which has to undertake this process.

Subhramanium: Petition here was under Article 227 otherwise the jurisdiction of tribunal could not be subject to review. In the larger interest of all parties, let the proceeding complete before the arbitral tribunal
#AmazonVsFuture

Subhramanium: Chief Justice has said that best practices of arbitration internationally is embedded in Indian system. So to suspend this proceeding now will render this policy a blow too

Subhramanium: If I have spoken more than necessary then it is surely due to my enthusiasm in appearing before you physically.

Sr Adv Ranjit Kumar: having decided to go to tribunal they filed plea under article 227. What do they want and on priority? Let tribunal hear this application

Justice Kohli: what is the next date is for the HC division bench ?

Kumar: March 21, 2022

Sr Adv Mukul Rohatgi: There are two parties Future Coupons, and other is future retail. Amazon has agreement with only coupons and coupons is a small business. They had nothing to do with FRL.

Rohatgi: on that info CCI granted approval and approval is pre condition under the law. In arbitration it came out that they had eyes on FRL. We had said that this will be sold to reliance in 27,000 crores. So we told CCI that they were taken for a ride and permission was wrong

Rohatgi: HC held that permission was obtained by Amazon through misrepresentation.

CJI: Sr Adv Ranjit Kumar says under 32C termination application if you both agree then we can ask tribunal for the same

Rohatgi: if CCI order is final then application can be heard. But they have now challenged the CCI order

CJI: that they are entitled to do so

CJI to Sr Adv Gopal Subramanium: why don't you ask the tribunal to decide the CCI application?

Subhramanium: The entire filing before CCI was done by solicitors jointly

CJI: I want to ask questions but it will be like expressing opinions.

CJI: There are two options, we keep matter pending and let HC decide in a week's time. If it's against then challenge along with that. Second option, pursue NCLAT and see if proceedings are completed

Subhramanium: Please keep the proceeding pending and let us see dat after tomorrow

Rohatgi: please keep this for next Friday

CJI: Heard the senior counsels.

Sr Adv Harish Salve: we have the tribunals email saying they don't have dates before April. They dont have dates for us but it is there for amazon

CJI: The present slp is one way connects to the outcome of the order passed by NCLAT challenging order of CCI. Thus we ask the parties to approach NCLAT for expeditious disposal of the case. List on March 9