Amazon v Reliance: Future Coupons files caveats in Delhi High Court

In anticipation of any litigation that it might get involved in following the ongoing dispute between Amazon and Reliance, Future Coupons Limited has filed caveats in the Delhi High Court..The Kishore Biyani-owned entity, which runs Big Bazaar and other retail outlets, has prayed that no order of any kind be passed against it in petitions or application that may be filed, without issuing notice to it..The caveats have been filed through Advocate Rishi Agrawala of Agarwal Law Associates, and Naik Naik & Co and Advocate Harshvardhan Jha..Future Coupons appears to be caught in the crossfire of a battle between retail giants Reliance and Amazon, which recently obtained a favourable ruling before the Emergency Arbitrator at Singapore International Arbitration Centre (SIAC) in its fight to acquire the Future Group. .[Breaking] Reliance - Future Group Deal: Amazon gets relief as Singapore Emergency Arbitrator stalls the sale of Future Group.Amazon has claimed that as per a deal in which it acquired 5% of Future Coupons for Rs 1,430 crore in 2019, there is a negative list of 30 entities with which Future Group cannot transact. One of the 30 entities was the Mukesh Dhirubhai Ambani Group of companies..The Ambani-owned Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Limited, had acquired the retail and wholesale business and the logistics and warehousing business of Future Group in August this year..Despite the Emergency Arbitrator's interim award injuncting Future Group from taking any steps in furtherance of the 2020 transaction, both parties to the transaction have gone on record to state that the order is not enforceable..Meanwhile, Amazon is likely to approach the Delhi High Court seeking enforcement of the Emergency Arbitrator's interim award. The Jeff Bezos-owned company is likely to face an uphill task in seeking enforcement of such an order in India, as the Arbitration and Conciliation Act, 1996 does not specifically recognise interim orders passed by emergency arbitrators..Emergency Arbitration and the Amazon, Future Group, Reliance Dispute