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Telecom industry under stress, hopeful govt will act: Sunil Mittal

Telecom industry under stress, hopeful govt will act: Sunil Mittal
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Top India Court Halts Future s $3 4 Billion Deal On Amazon Plea

Top India Court Halts Future s $3 4 Billion Deal On Amazon Plea
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United statesMukesh ambaniReliance industries ltdIndian supreme courtNational company law tribunalRetail ltdBloomberg india supreme courtReliance industriesSupreme courtFuture groupFuture retailJeff bezos founded amazonAmazon indiaSouth asianஒன்றுபட்டது மாநிலங்களில்முகேஷ் அம்பானி

Top India Court Halts Future s $3 4 Billion Deal on Amazon Plea

Ambani’s $3.4 Billion Retail Deal Stalled by Indian Court Bloomberg 2/22/2021 Upmanyu Trivedi (Bloomberg) India’s Supreme Court stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., delaying the deal in a boost for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce giant’s petition, the top court on Monday overturned a lower court’s ruling and said the National Company Law Tribunal can continue hearing the case but must not give a final nod till further orders. The court also sought written statements from Future Retail Ltd. and said it will hear the case after three weeks. Future’s stocks and bonds fell.

United statesMukesh ambaniNarendra modiJustice rohintonf narimanReliance industries ltdRetail ltdBloomberg india supreme courtBombay stock exchangeReliance industriesPrime minister narendra modiSupreme courtFuture groupFuture retailJeff bezos founded amazonFuture retail ltdஒன்றுபட்டது மாநிலங்களில்

Supreme Court halts Future Group s $3 4 billion deal on Amazon plea

India’s Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce giant’s petition, the top court on Monday overturned a lower court’s ruling and stopped India’s company tribunal from approving the transaction till further orders. The court issued notices to Future Retail Ltd. seeking written statements on Amazon’s petition. Justice Rohinton F. Nariman who’s heading the two-judge panel said the court will hear the case again after five week.

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India s top court halts Future Group-Reliance deal on Amazon plea

Amazon, which accused Future of violating a partnership contract, won a stay on the deal from a Singapore arbitration tribunal in October.

United statesMukesh ambaniJustice rohintonf narimanRetail ltdReliance industriesFuture retailJeff bezos founded amazonFuture groupFuture retail ltdஒன்றுபட்டது மாநிலங்களில்முகேஷ் அம்பானிசில்லறை லிமிடெட்நம்பகத்தன்மை தொழில்கள்எதிர்கால சில்லறைஎதிர்கால குழுஎதிர்கால சில்லறை லிமிடெட்