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SC notice on Amazon plea seeking interim relief on Rs 24,713Cr RIL-Future deal
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SME Times News Bureau | 22 Feb, 2021
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.
Amazon has opposed the
deal between Future and RIL, and it has already won international
arbitration in Singapore on this. E-commerce giant had also moved the
High Court seeking action against Future's Kishore Biyani for violating
the agreement an agreement, which barred it from dealing with RIL in any
manner.
Amazon had 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 Ltd and Reliance. The
e-commerce company has challenged this Delhi High Court Division Bench
order, which stayed the implementation of the "status quo" on the deal.
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