Amazon writes to SEBI again, asking it to suspend review of the Future Retail-Reliance deal
PTIJan 12, 2021, 08:40 IST
BCCL
New Delhi, Jan 11 () E-commerce major
Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the Division Bench of the Delhi High Court against the December 21 order of the single member bench, according to sources.
On December 21, a single member bench of the Delhi HC had rejected Future Group s plea to restrain Amazon from writing to regulatory authorities about the SIAC (Singapore International Arbitration Centre) arbitral order but gave a go-ahead to the regulators to decide over the deal.
Updated Jan 12, 2021 | 09:17 IST
Future Group and Amazon are entangled in a bitter legal dispute over the Indian retail company s Rs 24,713 crore deal with Mukeh Ambani-controlled Reliance Industries (RIL). Amazon may file fresh plea in Delhi High Court against Future’s Rs 24,713 crore deal with RIL | Photo Credit: BCCL
New Delhi: E-commerce behemoth Amazon is likely to file a fresh petition as early as this week in the Delhi High Court in the ongoing legal feud against the Kishore Biyani-led Future Group over the sale of the latter’s retail business to Reliance Retail Ventures Ltd (RRVL), subsidiary of Mukesh Ambani-controlled Reliance Industries Ltd (RIL).
The Indian stock market rose to new highs in the afternoon session of trade on Tuesday backed by bullish RIL stocks, after a choppy trade initially.Both the BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) rose above the .
Read more about Amazon urges Sebi to suspend review of $3.4 billion Future-RIL deal on Business Standard. Amazon also urged Sebi about not granting any no-objection in relation to the same and directing the Indian Stock Exchanges not to issue any no-objection/approval letter to Future Retail
Updated Jan 11, 2021 | 21:58 IST
The US e-commerce major, on the other hand, contends that there were ongoing discussions on multiple options with partners and with the promoters of Future. Amazon writes to Sebi again, urges it to suspend review of Future-RIL deal
New Delhi: E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the Division Bench of the Delhi High Court against the December 21 order of the single-member bench, according to sources.