The Supreme Court on Tuesday asked Future Group to approach the Delhi High Court to agree to litigate in the National Company Law Appeal Tribunal (NCLT) over the group’s deal with Reliance.
The High Court has on February 24 listed a batch of legal battles between US e-commerce giant Amazon and Future Group over the Rs 24,731 crore merger deal between Future Retail Ltd (FRL) and Reliance Retail.
Meanwhile, the NCLT has adjourned a hearing on Amazon’s request to February 25 to seek a temporary stay of an order passed by fair trade watchdog CCI that suspends approval of its deal with Future Coupons more than two years ago. Ltd. (FCPL).
On Feb. 1, the Supreme Court struck down three High Court orders, including the seizure of the assets of Future Group and its directors, and a refusal to stay the final arbitration award, which restricted FRL from continuing its deal with Reliance while ordering new awards.
Complete News Source : Hindustan Times
