RIL-FRL deal: Delhi HC asks if Amazon, Future ready to resolve issues
Court was hearing a plea filed by Amazon seeking directions to order enforcement of award by Singapore s Emergency Arbitrator, which restrained Future Group from signing a deal with Reliance Retail
BusinessToday.In | February 2, 2021 | Updated 13:32 IST
Amazon CEO Jeff Bezos and Future Group promoter Kishore Biyani
The Delhi High Court has asked both US e-commerce giant Amazon and Kishore Biyani-led Future Retail Ltd (FRL) if they are open to resolving their issues with regard to the Rs 24,713 crore deal between Reliance Retail and Future Retail. Both companies, via their counsel, have said they will inform the court on February 2.
Read more about HC seeks Future s stand on Amazon plea to set aside court s observations on Business Standard. Delhi High Court sought response of Future Retail on Amazon s plea challenging observations by a judge the US e-commerce giant s attempt to control Indian entity was violative of FEMA and FDI rules
Synopsis
The Delhi High Court has directed Future Group and its promoter Kishore Biyani to file their reply to an appeal filed by Amazon challenging a single-judge bench’s recent observation that Reliance Retail’s deal to acquire assets of Future Retail was valid.
Reuters
Amazon, in its appeal, has sought setting aside the observations as they have a bearing on its case in arbitration proceedings that were initiated before the Singapore International Arbitration Centre (SIAC).
Mumbai: The Delhi High Court has directed Future Group and its promoter Kishore Biyani to file their reply to an appeal filed by Amazon challenging a single-judge bench’s recent observation that
Read more about HC seeks Future s stand on Amazon plea to set aside court observations on Business Standard. The prima facie observations by a single judge are that the US e-commerce giant s attempt to control the Indian entity was violative of FEMA and FDI rules
The News Scroll 13 January 2021
Last Updated at 1:27 pm | Source: PTI
HC seeks Future Retail s stand on Amazon plea to set aside court observations against it Outlook January 13, 2021 13:27 IST HC seeks Future Retail s stand on Amazon plea to set aside court observations against it outlookindia.com 1970-01-01T05:30:00+0530
New Delhi, Jan 13 (PTI) The Delhi High Court Wednesday sought response of Kishore Biyani-led Future Retail Ltd (FRL) on Amazon s plea challenging the prima facie observations by a single judge that the US e-commerce giant s attempt to control the Indian entity was violative of FEMA and FDI rules.
A bench of Chief Justice D N Patel and Justice Jyoti Singh issued notice to FRL, Future Coupons Pvt Ltd (FCPL), Reliance Retail and the Biyanis seeking their stand on the plea by Amazon against the observations made by the single judge in a December 21, 2020 interim order.