Reliance Future deal: SC issues notice on Amazon plea for interim relief on Rs 24,713 cr
Reliance Future deal: SC issues notice on Amazon plea for interim relief on Rs 24,713 cr

NEW DELHI: The Supreme Court on Monday issued a notice on a plea by Amazon seeking interim relief challenging a High Court order, which permitted Rs 24,713 crore Reliance-Future deal to proceed. The Supreme Court also restrained the National Company Law Tribunal (NCLT) from passing final orders on the merger.

A bench headed by Justice R.F. Nariman issued notices to Future Retail and Reliance in the matter. The Apex court noted that proceedings in the National Company Law Tribunal will continue. The top court also observed that it is aware of what is going on and during the hearing pointed at completely staying the NCLT proceedings. But, it only stayed the tribunal from passing any final order regarding sanction of the scheme.

Amazon had moved the Supreme Court against the Future-Reliance Retail deal. On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between Future Retail Ltd and Reliance. The e-commerce company has challenged this Delhi High Court Division Bench order, which stayed the implementation of the "status quo" on the deal.

Amazon has opposed the deal between Future and Reliance, and it has already won international arbitration in Singapore on this. E-commerce giant had also moved the High Court seeking action against Future's Kishore Biyani for violating the agreement which barred it from dealing with Reliance in any manner.

Petrol, Diesel Tax reduce In West Bengal, check fuel price here

Mercedes-Benz to recall more than 40,000 SUVs

Mahindra Marazzo diesel AMT launch soon


Join NewsTrack Whatsapp group
Related News