Amazon moves Delhi HC to enforce Singapore order and block Reliance-Future deal
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Amazon moves Delhi HC to enforce Singapore order and block Reliance-Future deal
Digbijay Mishra / TNN / Updated: Jan 25, 2021, 22:30 IST
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BENGALURU: Amazon has intensified its legal battle against Future Group and its promoter -Kishore Biyani-with a new case in the Delhi high court to enforce the Singapore arbitration ruling in India, which had stayed the Rs 24,731 crore Reliance-Future deal.
The Singapore International Arbitration Centre (SIAC) in October granted an interim relief to Amazon by asking Future to put on hold its merger with Reliance.
Amazon s petition in the court, reviewed by TOI, said Biyani-led Future Group deliberately and maliciously disobeyed the international arbitration ruling from SIAC. The filing showed it also sought detention of Biyani in a ‘civil prison’ and attaching his assets to the case.
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Future Retail-Reliance deal gets SEBI approval, Amazon says it will continue to fight legally
PTIJan 21, 2021, 08:17 IST
BI India/BCCL
Future Group s scheme of arrangement and sale of assets to
Reliance, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal.
Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court. The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August.
SEBI Nod, BSE No-Adverse-Observation Status Paves Way For Reliance-Future Deal
Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no-objection certification. Twitter Outlook Web Bureau 2021-01-21T11:25:12+05:30 SEBI Nod, BSE No-Adverse-Observation Status Paves Way For Reliance-Future Deal outlookindia.com 2021-01-21T11:32:27+05:30
Future Group s scheme of arrangement and sale of assets to Reliance was given a go-ahead by market regulator SEBI on Wednesday, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal.
The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August.