[Reliance-Future Deal] Amazon still thinks it's living during the time of the East India Company: Harish Salve before Delhi High Court

Amazon is the clean-shaven person who is trying to join a race only for bearded people, and saying that it could have grown a beard, Senior Advocate Harish Salve said to the Delhi High Court during the hearing in Future Retail's suit against the Jeff Bezos-owned corporation [Future Retail v. Amazon]..Following a stay order by the Emergency Arbitrator of the Singapore International Arbitration Centre (SIAC), Future Retail had filed a suit against Amazon to prevent it from interfering in its deal with Reliance. .[Breaking] Reliance - Future Group Deal: Amazon gets relief as Singapore Emergency Arbitrator stalls the sale of Future Group.Amazon, an investor in one of the shareholders of Future Retail, had moved the Emergency Arbitrator on the ground that Reliance fell in the negative list of 30 entities with which Future Group could not transact..During his rejoinder arguments before a Single Judge Bench of Justice Mukta Gupta, Salve today reiterated that the order of the Emergency Arbitrator was of no value. He said,."I am subject to Indian courts. If a gentleman sitting in Singapore says something, I can bin that order. It is not to show any disrespect. I'm saying that as a matter of law...".He also stressed that Amazon only held shares in Future Coupons (FCPL), a shareholder in Future Retail (FRL), and thus had no say in the affairs of the latter. ."Amazon is not even a minority shareholder in FRL. How can there be rights conferred upon him?".Salve vehemently rejected Amazon's assertion that its consent to the transaction was necessary."...thousands may lose jobs, FRL may go bankrupt but this great American giant should not be upset! Compare the figures invested by Amazon and what Reliance is offering. That is the amount needed to rescue FRL."Senior Advocate Harish Salve.He further said that in case Amazon had a grievance, it should be raised against the promoters i.e. the Biyanis, and not FRL. ."You (Amazon) have arrogance, but you don't have any contractual rights", he added. .Defending the transaction with Reliance, Salve stated that the directors of FRL have a fiduciary duty towards its shareholders. The August Board Resolution was passed to save FRL, which is sinking, he submitted.."Amazon has no voting rights or Board position, but says that you dare not take a decision without me on saving yourself...In today's day and age, to say that I will kill a 25k crore company...God knows if Amazon still thinks that it's living during the time of the East India Company!"Senior Advocate Harish Salve.Salve will continue his arguments on November 19. .Amazon v Reliance: When parties to the contract are not objecting, who is Amazon to jump? Salve argues for Future Retail before Delhi High Court.Amazon has argued that the suit itself is not maintainable in view of the existence of an arbitration clause. .Contending that the three relevant agreements - the FRL Shareholding Agreement (SHA), the FCPL SHA, and the Share Subscription Agreement were on the same platter, Amazon, through Senior Advocate Gopal Subramanium, had asserted that the "ship of arbitration" in the present case has already sailed. .Amazon has defended the order of the Emergency Arbitrator on the ground that the Rules of the SIAC were embedded in the arbitration agreement between it and the Future Group.