Future-Reliance deal: Delhi HC refuses to restrict Amazon from approaching regulators
Delhi High Court passed the order on FRL s petition that argued that Amazon writing to the authorities regarding the emergency arbitrator s award tantamounts to meddling with the Rs 24,713 crore RIL-Future deal
BusinessToday.In | December 29, 2020 | Updated 13:57 IST
The development comes as a blow to Future Retail which has been engaged in a clash with Amazon over the sale of its retail business to Mukesh Ambani-led Reliance Industries Limited (RIL)
The Delhi High Court on Monday, December 21, rejected Kishore Biyani-led Future Retail Ltd s (FRL) plea for an interim injunction restricting Amazon from approaching statutory authorities, SEBI (Securities and Exchange Board of India), CCI (Competition Commission of India), and other regulators, about the arbitral order against its asset sale to Reliance Industries Ltd. (RIL).
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Future Retail says reviewing HC order, Amazon welcomes verdict.
Kishore Biyani-led Future Retail Ltd (FRL) on Monday said it is âreviewingâ the Delhi High Court order that has rejected its plea to restrain Amazon from writing to regulatory authorities about the SIAC arbitral order against its asset sale under a Rs 24,713 crore deal with Reliance. FRL, in a regulatory filing, said it would submit a brief summary after consultation with legal advisors. We are in process of reviewing the same and shall submit a brief summary after consultation with legal advisors,â it said while also submitting the 132-page order. An Amazon spokesperson welcomed the order.