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SC restrains NCLT from approving Rs 24,000 FRL-Reliance scheme


NEW DELHI: The Supreme Court on Monday allowed National Company Law Tribunal (NCLT), Mumbai, to continue proceedings on Kishore Biyani-led Future Retail Ltd plea seeking permission for calling shareholders meeting to approve its Rs 24,713 crore retail asset sale deal with Reliance Retail but asked the tribunal not to pass final orders sanctioning the deal.
A big fight between Jeff Bezos global retail giant Amazon, eying to consolidate position in the huge Indian retail market, and the Biyani group, owner of the biggest retail chains in India through FRL, broke out when FRL decided to dump Amazon to go with Reliance Retail. ....

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