Future-Reliance Retail Deal: Status Quo Lifted By Delhi High Court
Feb 08 2021, 7:16 PM
February 08 2021, 5:30 PM
February 08 2021, 7:16 PM
A two-judge bench of the Delhi High Court has lifted the status quo on the Rs 27,513-crore deal between the Future Group and billionaire Mukesh Ambani-led Reliance Retail Ventures Ltd.The bench stayed the operation, implementation and execution of the single-judge Feb. 2 order till the next date of hearing. Chief Justice DN Patel and Justice Jyoti Singh, in their order, said:That the appellant (Future Retail Ltd.) is not a party to.
A two-judge bench of the Delhi High Court has lifted the status quo on the Rs 27,513-crore deal between the Future Group and billionaire Mukesh Ambani-led Reliance Retail Ventures Ltd.
Delhi High Court stays direction to maintain status quo on Future-Reliance deal
The bench declined Amazon s request to keep its order in abeyance for a week so that it can explore appropriate remedies.
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NEW DELHI: The Delhi High Court on Monday stayed its single judge direction to Future Retail Ltd (FRL) and various statutory authorities to maintain status quo with regard to the Rs 24,713 crore deal with Reliance Retail.
A bench of Chief Justice D N Patel and Justice Jyoti Singh passed the interim direction on FRL s appeal challenging the February 2 order of the single judge.
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Future Retail challenges Delhi HC s status quo order on RIL-FRL deal
08 February 2021
A day after the Delhi High Court upheld the Singapore arbitration court’s stay order in Future Group’s sale of its retail and wholesale assets to Reliance Retail, the Kishore Biyani-led Future Group moved a counter petition in the high court seeking vacation of the Delhi court’s order in favour of Amazon Inc.
Hearing in the petition started on Thursday with counsel for Amazon Gopal Subramanium arguing that the order of the arbitrator is deemed to be an order of the court and that 6he single judge order had specifically stated that it was not sitting in judgement over the Emergency Arbitration Order.