Amazon moves Supreme Court in Future-Reliance deal dispute PTI
Updated : Feb 11, 2021, 6:25 pm IST
Justice Midha had directed FRL and other parties to maintain status quo till pronouncement of the reserved order
Amazon has approached the Supreme court in the matter against Future, picture used for representational purposes only
New Delhi, Feb 11 (PTI) E-commerce major Amazon has moved the Supreme Court in a bid to block Future group s Rs 24,713-crore deal with Reliance, according to sources.
The development comes after a recent Delhi High Court s ruling that stayed a previous order on status quo of the deal and ruling that statutory authorities cannot be restrained from acting in accordance with law.
Future Retail gets relief from Delhi HC bench in RIL deal case
The high court s order came over an urgent petition moved by FRL after the single-member bench directed maintaining status-quo over Future s deal with Reliance.
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Future Retail Ltd (FRL) on Monday said the Delhi High Court has ruled that statutory authorities cannot be restrained from acting in accordance with the law and stayed a previous order on the status quo of its Rs 24,713 crore deal with Reliance.
Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice DN Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2.
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 HC stays single judge’s status quo order on Future-Reliance deal
February 08, 2021
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A Delhi High Court Division Bench today stayed the status quo order passed by a single judge in the case related to the dispute between Amazon and Future Retail.
Chief Justice DN Patel and Justice Jyoti Singh said the
prima facie reason was that Future Retail was not a party to the August 22, 2019 Shareholders Agreement executed between Amazon, Future Coupons Private Limited and the promoters of Future Retail, under which arbitration was initiated by Amazon in Singapore. Also, the US e-commerce giant was not a party to the deal between FRL and Reliance Retail. The deals “are different” and “therefore, the group of companies doctrine cannot be invoked”, it said.
Delhi HC stays implementation of status quo on Future-Reliance deal daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.