Future Retail appeals against status quo order on Future-RIL deal
On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon
PTI | February 3, 2021 | Updated 14:13 IST
Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi High Court against the status quo order on its Rs 24,713-crore deal with Reliance.
On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon.
Last January, Amazon founder and Chief Executive Jeff Bezos was in India, holding closed-door meetings with top industry leaders including Mukesh Ambani and Kishore Biyani. He hobnobbed with Bollywood stars, visited the iconic Taj Mahal, flew kites with children and also experienced Indian street food. He even delivered a package to a customer from a kirana store in Mumbai and shared the picture on his Instagram account. A lot has changed since then. In a surprise move, Bezos stepped down as CEO of the e-commerce giant on Tuesday. He would transition to the executive chair of Amazon Board and will stay engaged in important Amazon initiatives. Andy Jassy, who heads the company’s cloud computing platform Amazon Web Services (AWS), is expected to take over the role of CEO in the third quarter of 2021.
Future Retail files appeal in Delhi High Court against status quo order on Future-Reliance deal
Justice J R Midha, on Tuesday, said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon.
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NEW DELHI: Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi High Court against the status quo order on its Rs 24,713-crore deal with Reliance.
On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon.
Delhi HC directs Future Retail to maintain status quo on deal with Reliance
Updated:
Updated:
February 02, 2021 23:54 IST
Justice J.R. Midha said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon
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Delhi High Court. File
Justice J.R. Midha said the court was satisfied that an immediate interim order was required to be passed to protect the rights of Amazon
The Delhi High Court on Tuesday provided interim relief to e-commerce major Amazon by directing Future Retail Limited (FRL) to maintain ‘status quo’ with regard to transfer of its retail assets to Reliance Retail.
Updated Feb 02, 2021 | 17:27 IST
The Singapore International Arbitration Centre (SIAC) on October 25 last year, had passed an interim order in favour of Amazon barring FRL from taking any step to dispose of or encumber its assets Future Retail turns down Delhi High Court s suggestion to engage in talks with Amazon
New Delhi: Kishore Biyani-led Future Retail on Tuesday turned down HC s suggestion to engage in talks with e-commerce giant Amazon. The company stated that they were not privy to contract with Amazon and that talks may create confusion. Amazon stated that it is willing to enter a purposive dialogue out of deference to the Indian legal system.