Amazon vs Future: SC says will decide case, stays HC proceedings
By IANS |
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Supreme Court. (File Photo: IANS). Image Source: IANS News
New Delhi, April 19 : The Supreme Court on Monday stayed the proceedings before the single judge and division bench of the Delhi High court on the Amazon-Future deal.
A bench headed by Justice R F Nariman and comprising Justices B R Gavai and Hrishikesh Roy said the matter will be finally decided by the top court.
On April 8, Amazon had moved the top court against the Delhi High Court s division bench order, which vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries.
Indian insurance companies can now invest in FoF
After the unicorn parade we saw this week, there s more reason to cheer for Indian startups, thanks to the IRDA s move to allow Indian insurance companies to invest in Funds of Funds.
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After the unicorn parade we saw this week, there s more reason to cheer for Indian startups, thanks to the IRDA s move to allow Indian insurance companies to invest in Funds of Funds.
The latest IRDA move will mean greater inflow of domestic capital into the startup ecosystem and comes close on the heels of the recent decision of the government to allow private retirement funds to park certain percentage of their capital in Alternate Investment Funds (AIFs).
NEW DELHI: Amazon has moved the Supreme Court challenging the Delhi high court s division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries.
Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it illegal , random , inequitable and unfair .
On March 22, a division bench of the Delhi high court had granted Future a reprieve from a March 18 single-judge order that restrained it from taking any steps to sell assets to Reliance.
Amazon has now moved the Supreme Court and challenged the March 22 order, requesting a stay till a final outcome of its earlier plea related to the deal.
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Amazon moves SC for stay on Delhi HC order till verdict on Future-Reliance deal dispute
Amazon and Future have been locked in a bitter legal tussle after the US ecommerce giant dragged Future Group to arbitration at SIAC in October last year, arguing that the latter had violated their contract by entering into the deal with rival Reliance.
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Amazon has moved the
Supreme Court challenging the Delhi High Court s division bench order that had vacated a stay on
Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries.
Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it illegal, random, inequitable, and unfair.