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SEBI has to approve scheme by FRL, Amazon objections not valid
By IANS |
Published on
Mon, Dec 21 2020 14:03 IST |
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SEBI.. Image Source: IANS News
New Delhi, Dec 21 : SEBI has to approve the scheme submitted by Future Retail Limited (FRL) so long as the scheme is in compliance with statutory provisions of Companies act and other SEBI regulations.
Amazon s objections is no longer relevant for approval of Scheme by SEBI is the takeaway from the Delhi High Court order today.
FRL Board Resolution approving Scheme and sale of business to Reliance is Valid and in accordance with statutory provisions not void as claimed by Amazon.