New DelhiL The Supreme Court granted Future Retail permission to petition the Delhi High Court for permission to continue the National Company Law Tribunal (NCLT) proceedings regarding the sanction for its Rs 27,513-crore deal with Reliance Retail Ventures Ltd.
When Future Retail files an application, a bench led by Chief Justice N.V. Ramana asked the high court to issue an appropriate order. The bench, which also included Justices A.S. Bopanna and Hima Kohli, further stated that the high court should determine the case without being affected by the top court's findings.
The NCLT proceedings are at stage 8, meeting of shareholders, according to the top court, and there are 15 stages to the scheme's final approval. Future Retail was given permission to petition the high court for a stay of proceedings before the NCLT beyond Stage 8. The panel instructed Future's lawyer to go to the Delhi High Court. Later in the day, a detailed copy of the ruling will be uploaded.
HC strikes down amendments to Karnataka Police Act, 2021
Supreme Court calls for CBI permission to investigate death of a 17-year-old girl in Thanjavur
