Amazon is bringing us to our knees, we’re broke: Future Retail to SC

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Amazon is bringing us to our knees, we are broken: the future retail of SC

Highlights

  • Future Retail Counsel Tells Supreme Court That His Client Is Broken
  • He added that Amazon is bringing them to their knees
  • Amazon attorneys say efforts to resolve long-running dispute with Future Retail have failed

Future Retail Counsel told the Supreme Court on Tuesday that its client had broken down and brought Amazon firm to its knees, negotiating between the parties to resolve the legal dispute after submitting Amazon’s advice and occupying Reliance Futures stores.

Harish Salve, a senior advocate representing Future Retail, submitted before a bench headed by Chief Justice NV Ramna that nothing had been transferred and the shop rent had not been paid for more than two years. “We didn’t have any money, which we reported in all forums. The landlords are canceling our leases,” Salve said.

He further added that the Amazon is bringing them to their knees and they have collapsed.

Salve’s response came after a submission by senior advocate Gopal Subramaniam, representing Amazon, that Reliance Future is occupying retail stores and that no assets will be transferred despite a Supreme Court order. “It has been recorded, and orders have been violated while pending …,” Subramaniam said.

Initially, Amazon’s lawyer told the apex court that efforts to resolve a long-running dispute between its client and Future Retail had failed. “The effort did not work and the conversation ended. Nothing is happening,” said Subramaniam.

Counsel for both the parties have agreed to resume arbitration proceedings in the tribunal, which has been stayed by the Delhi High Court.

Salve added that anyone can talk about the glory and majesty of things, “but when we are broken, we are broken.” He said the occupation of the shop started 15 days ago. “We have no control. Reliance is taking action despite the ongoing lawsuit. Reliance is taking responsibility. There is nothing we can do,” Salve said.

He further added that not a single shop has surrendered and Reliance boards have been taken away because they have rights, all our assets are there. Mukul Rohatgi, a senior advocate representing Future Coupon, reiterated, “There are shops! What is there to say it has been seized?”

Salve added: “There is nothing we can do. What are we going to do? We have not signed anywhere. In fact, Mr. Beanie went and protested.”

Another Amazon attorney said, “Then all of a sudden they’re saying there’s no money so the store is occupied? Look at the behavior.”

The bench said, “Activities are going on and everything is happening. We feel that we are getting humility by postponing the matter.” Subramaniam said: “Let’s go back to the tribunal … 80 per cent of the shops have surrendered to Reliance.”

After a detailed hearing, the apex court allowed Amazon to make an appeal on the matter and set the matter for the next hearing on Wednesday.

The apex court was hearing Amazon’s challenge to the Delhi High Court’s order suspending further arbitration proceedings with Future Group before the Singapore Arbitration Tribunal.

Future Retail Limited (FRL) has struck a Rs 24,713 crore deal with Reliance Retail to sell its business, which has been objected to by US-based e-commerce giant Amazon.

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