The Delhi High Court on Monday asked Amazon whether they and kishore Biyani's Future Retail Ltd. (FRL) were open to resolving their disputes by the means of of Resolution.
They clarified that the court proceedings will not be halted and a single judge bench of Justice JR Midha suggested that the matter can be referred to Two retired judges of Supreme Court.
"Both of you tell by tomorrow whether any endeavour can be made...In commercial matters, it is always helpful to find a solution", the Court told the senior counsel appearing for the two companies.
While Senior Advocates Gopal Subramanian and Rajiv Nayar from Amazon's side agreed but Senior Advocate Darius Khambata sought time to take instructions.
"For a person you've taken money from, you can at least make an effort to resolve...", the Court remarked.
The court was hearing the matter related to Amazon's petition which seeked enforcement of the emergency award restraining future group from going ahead with the deal with Reliance Retail.
"Findings have completely negated the Emergency Award. They (Amazon) should have asked the appeal court for a stay but they didn't. They come to this court for enforcement...this is adventurism.", Senior Advocate Harish Salve for FRL stated.
Salve asserted that the justice JR Midha gave a prima facie view that the transaction between FRL and Reliance was valid.
"What the Court is being asked to do is completely contrary to the single judge order", Salve added.
The deal is important with Reliance, stressing on the same salve said that,
"Reliance will also acquire the liabilities of FRL as well. Small creditors would be paid. Of course, the American doesn't care, but an Indian court would take this into account..."
Amazon soughts the enforcement of its emergency award under the SIAC rules under section 17(2) of the arbitration and Conciliation act.
Subramanian will make the rejoinder submissions in the case tommorow.