Amazon has mounted legal challenges against Future's planned asset sale to market leader Reliance Industries since last year, accusing the company of violating certain contracts by doing so
Amazon vs Future: SC stays all HC proceedings; to hear matter itself
A Supreme Court bench of justices Rohinton Fali Nariman, Hrishikesh Roy and BR Gavai granted the stay on a plea filed by Amazon, which challenged the March-22 order passed by a division bench of the Delhi High Court
BusinessToday.In | April 19, 2021 | Updated 14:58 IST
The division bench had stayed the Delhi HC single judge order, which directed to attach promoter Kishore Biyani and Future group's assets
The Supreme Court (SC) on Monday put a stop on all proceedings related to the Amazon-Flipkart case in the Delhi High Court. It has decided to hear the entire case itself and will begin the final hearing in the case on May 4. A Supreme Court bench of justices Rohinton Fali Nariman, Hrishikesh Roy and BR Gavai granted the stay on a plea filed by Amazon, which challenged the March-22 order passed by a division bench of the Delhi High Court.
'Will defend': Future after Amazon moves SC against Delhi HC stay order
Future says it has received a communication dated April 13, 2021, that Amazon has filed a Special Leave Petition before the SC against the Delhi HC division bench
BusinessToday.In | April 14, 2021 | Updated 16:06 IST
Amazon CEO Jeff Bezos and Future group promoter Kishore Biyani
The fight between Amazon and Future Retail will now take place in India's Supreme Court. Future Retail has said it will "defend the matter/proceedings through legal counsels" after Amazon approached the Supreme Court against a Delhi High Court order that stayed a single judge's order restraining Kishore Biyani-led retail chain from going ahead with its Rs 24,713 crore deal with Mukesh Ambani-led Reliance Retail.
RIL-Future Retail: Deadline to complete Rs 24,713 cr deal extended by 6 months
The Delhi High Court on March 21 stayed the single judge bench order restraining Future Retail and Reliance Retail from carrying forth the Rs 24,713 crore deal
BusinessToday.In | April 2, 2021 | Updated 14:28 IST
The deal has been opposed by Jeff Bezos-led Amazon, and both Future and RIL are facing legal hurdles
Mukesh Ambani-led Reliance Retail Ventures has extended the timeline to complete its Rs 24,713 crore deal with Kishore Biyani-led Future group for six months. Future Retail, in a regulatory statement, confirmed Reliance Retail has extended the timeline for the "Long Stop Date" from March 31, 2021 to September 30, 2021. The deal has been opposed by Jeff Bezos-led Amazon, and both Future and RIL are facing legal hurdles in sealing the deal.
Months before RIL-Future deal, Amazon devised Rs 6,000 cr rescue plan for Biyani's company
But Future group says Amazon failed to provide any help to debt-laden company that suffered a massive setback during COVID-induced lockdown. Amazon, on the other hand, says there were ongoing discussions on multiple options with partners and with the promoters of Future
BusinessToday.In | March 3, 2021 | Updated 13:03 IST
Amazon on February 12 moved the Supreme Court (SC) in a bid to block the deal
Even as Amazon Inc and Kishore Biyani's Future Retail are at loggerheads over the RIL-FRL deal, there was one time back in early 2020 when Jeff Bezos-led e-comm giant was making all-round effort to rescue the retail company out of financial troubles. Amazon had devised a plan to invest Rs 6,000 crore in Future Retail in equity and debt.
NCLT can issue directions over shareholders' meet on RIL deal, says Future Retail
Earlier in the day, the apex court had allowed the NCLT, Mumbai to continue with the proceedings but asked not to pass a final order on the amalgamation of Future Retail Ltd (FRL) with Reliance Retail
PTI | February 23, 2021 | Updated 11:21 IST
Future Retail Chairperson Kishore Biyani
Future Retail Ltd on Monday said the National Company Law Tribunal (NCLT) can issue directions to convene meetings of shareholders and creditors of applicant companies, including it, to consider the Rs 24,713-crore deal with Reliance Retail following an order by the Supreme Court.
Future Group CEO Kishore Biyani (File photo)
NEW DELHI: The Supreme Court on Monday barred a final ruling by a tribunal reviewing Future Group's $3.4 billion sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc, three sources said.
Amazon appealed to the Supreme Court this month against Future Group's sale to market leader Reliance Industries , accusing its partner of violating contracts by agreeing to the sale.
The outcome of the tussle involving two of the world's richest men, Amazon's Jeff Bezos and Reliance's Mukesh Ambani, could reshape India's pandemic-hit shopping sector and decide if Amazon can blunt Reliance's dominance of retail.