News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 3 years ago
Rediff.com  » Business » SC notice to Future Retail, others on Amazon's plea

SC notice to Future Retail, others on Amazon's plea

Source: PTI
February 22, 2021 11:54 IST
Get Rediff News in your Inbox:

The Supreme Court on Monday sought responses from Future Retail Ltd and others on Amazon's plea against the Delhi high court direction to maintain status quo on the Future-Reliance deal.

Kishore Biyani and others and sought their replies.

The apex court said the proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on amalgamation of FRL with Reliance.

 

While issuing notice distinct to FRL and others, the bench says that reply to the appeal of Amazon be filed in three weeks and rejoinder after two weeks thereafter and the Amazon's appeal will be listed for hearing after five weeks.

Last month, Amazon had approached the Delhi high court seeking enforcement of the interim order of the Emergency Arbitrator (EA) at the Singapore International Arbitration Centre (SIAC) that had restrained FRL from going ahead with the deal with Reliance.

In the interim order on February 8, the division bench said it was staying the single judge order as firstly, FRL was not a party to the share subscription agreement (SSA) between Amazon and Future Coupons Pvt Ltd (FCPL) and the US e-commerce giant was not a party to the deal between FRL and Reliance Retail.

Photograph: Abhishek N Chinnappa/Reuters

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!