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The Supreme Court on Monday stayed further proceedings before single judge and Division Bench of Delhi High Court in Amazon-Future-Reliance case.
A bench comprising Justices RF Nariman, BR Gavai and Hrishikesh Roy passed the order in an special leave petition filed by
Amazon.Com NV Investment Holdings LLC. The matter will anyway end up here. Why don t we finish hearing , Justice Nariman said at the outset when the matter was taken.
The SC-bench said that it will stay the proceedings in the High Court and will hear the matter. The matter will be listed on May 4. Parties have been directed to complete their pleadings by then.
SC notice on Amazon plea seeking interim relief on Rs 24,713Cr RIL-Future deal
By IANS |
Published on
Mon, Feb 22 2021 12:48 IST |
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SC notice on Amazon plea seeking interim relief on Rs 24,713Cr RIL-Future deal. Image Source: IANS News
New Delhi, Feb 22 : The Supreme Court on Monday issued notice on a plea by Amazon seeking interim relief challenging a High Court order, which allowed Rs 24,713 crore RIL-Future deal to proceed. The top court also restrained the NCLT from passing final orders on the amalgamation.
A bench headed by Justice R.F. Nariman issued notices to Future Retail and RIL in the matter. The top court noted that proceedings in the NCLT will continue. The top court also observed that it is aware of what is going on and during the hearing pointed at completely staying the NCLT proceedings. But, it only stayed the tribunal from passing any final order regarding sanction of the scheme.
E-commerce giant Amazon has moved the Supreme Court against the Future-Reliance Retail deal.On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between .
Future Retail gains nearly 10% following Delhi Court order on Future-Reliance deal
February 09, 2021
Future Retail was not party to Aug 22, 2019 Shareholders Agreement executed between Amazon, Future Coupons Pvt Ltd and promoters of Future Retail, under which arbitration was initiated by Amazon in Singapore: Judges
The shares of Future Retail gained significantly on Tuesday after a Delhi Court stayed the status quo order passed by a single judge in the case related to the dispute between Amazon and Future Retail.
At 1:23 pm, Future Retail was trading at ₹80.50 on the BSE, up ₹7.30 or 9.97 per cent.
On the NSE, it was trading at ₹80.45, up ₹7.25 or 9.90 per cent.