In setback to Amazon, Delhi HC stays status quo on Future-Reliance deal ANI | Updated: Feb 09, 2021 02:23 IST
New Delhi [India], February 9 (ANI): The Delhi High Court on Monday stayed single judge bench order which had directed Future Retail Limited (FRL) to maintain the status quo with respect to its deal with Reliance and issued notice to Amazon on Future Retail Ltd plea. The court listed the matter for further hearing on February 26, and issued notice to respondents including Amazon.
A division bench of Chief Justice DN Patel and Justice Jyoti Singh order came after hearing the appeal filed by FRL.
The court said that as far as the maintainability of the appeal filed by FRL is concerned, the prima facie view that the appeal is maintainable as the impugned order has been passed on a petition filed by Amazon and the applicant s appeal were filed under different orders.
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Delhi HC directs Future Retail Ltd to maintain status quo in its deal with Reliance, grants interim relief to Amazon ANI | Updated: Feb 02, 2021 22:09 IST
New Delhi [India], February 2 (ANI): The Delhi High Court on Tuesday directed Future Retail Limited to maintain status quo with respect to its deal with Reliance while granting interim relief to Amazon.
A single-judge bench of Justice JR Midha said the court is satisfied that immediate orders are necessary to protect the rights of the petitioner till the pronouncement of the reserved order. In that view of the matter, the respondents are directed to maintain status quo as on today at 4.50 pm till the pronouncement of the reserved order, he said.
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Future Retail informs BSE, NSE about Delhi HC order, says Amazon s attempt to control the company violative of FEMA FDI rules ANI | Updated: Dec 23, 2020 22:18 IST
Mumbai (Maharashtra) [India], December 23 (ANI): Future Retail on Wednesday wrote a letter to BSE and NSE regarding Delhi High Court s recent judgement and apprised that Amazon s attempt to control the company is violative of FEMA FDI rules. It also informed stock exchanges that regulators are free to decide Future-Reliance deal as per the law.
The letter informed BSE and NSE that the company (Future Retail) has complied with the disclosure requirement under applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by submission of the copy of the court order.
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Regulators will decide Future-Reliance deal: Delhi HC ANI | Updated: Dec 21, 2020 17:44 IST
New Delhi [India], December 21 (ANI): The Delhi High Court on Monday held that the statutory authorities or regulators will decide on the approval of the Future-Reliance deal as per the law and declined a plea of Future Retail Ltd to restrain Amazon from interfering in its deal with Reliance Retail on the basis of an interim order of Singapore International Arbitration Centre.
A single-judge bench of Justice Mukta Gupta, while passing a detailed judgement said that the Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI) will decide on Amazon s objections to Future Retail-Reliance Group deal.