Ultimate magazine theme for WordPress.

The court stayed the directive to maintain status quo on the Future-Reliance deal

0

new Delhi:

Delhi High Court on Monday Future Retail Limited (FRL) and Reliance Retail withheld the single judge’s order in relation to the Rs 24,713 crore deal between them, asking the FRL and various statutory bodies to maintain status quo. A bench of Chief Justice DN Patel and Justice Jyoti Singh gave this interim order during the hearing of the FRL’s petition challenging the single judge’s February 2 order. The bench also rejected Amazon’s request that the court hold its order for a week, so that it could consult it to take appropriate steps.

Also read

The High Court stayed the order dated February 2, saying that statutory bodies such as the National Company Law Tribunal, CCI and SEBI could not be prevented from proceeding as per law in relation to the deal.

Newsbeep

The court also issued notice to Amazon and sought its favor on the FRL’s appeal by 26 February, after which a daily hearing would be held in the case. The single judge in the Delhi High Court, in its order dated February 2, had asked FRL to maintain status quo in relation to the Rs 24,713 crore deal with Reliance Retail.

Amazon has approached the High Court to implement the interim order of the Emergency Arbitration Forum of Singapore on this deal. The tribunal gave an interim order to Future Future to stop its Rs 24,713 crore deal with Reliance Retail.

(This news has not been edited by the NDTV team. It is published directly from the Syndicate feed.)

Leave A Reply

Your email address will not be published.