Future Group companies have moved the Delhi High Court in appeal against the Single Judge's order in favour of the enforceability of the Emergency Award against its deal with Reliance.
In the order under challenge, a Single Judge Bench of Justice JR Midha had held that Future Retail, Future Coupons, Kishore Biyani and other promoters, directors violated the Emergency Award. It also imposed costs of Rs 20 lakh on Future Group companies, Biyani and other respondent parties.
The Bench directed Future Group to not take any further action in furtherance of the deal with Reliance and held that the Emergency Arbitrator had rightly invoked the 'Group of Company' doctrine in relation to the Future Group companies.
The appeals by Future Retail Ltd, Future Coupons Pvt Ltd and the promoters will be heard on March 22 by a Division Bench of Chief Justice DN Patel and Justice Jasmeet Singh.