Reliance Retail moves NCLT for shareholder meet to approve Future deal
Reliance stated that the legal proceedings involving Amazon and Future did not stop it from seeking its shareholders approval for the deal as the final verdict will come from Supreme Court
BusinessToday.In | May 19, 2021 | Updated 23:16 IST
Reliance Retail Ventures has reportedly asked National Company Law Tribunal (NCLT) for permission to hold a shareholders meet to consider and approve its Rs 24,715-crore deal with Future Retail.
Reliance Industries counsel Janak Dwarkadas presented before the Mumbai bench of the tribunal that Reliance and its subsidiaries are neither party to the legal dispute between Amazon and Future under consideration of the Supreme Court nor to the arbitration proceedings before the Singapore International Arbitration Centre (SIAC), reported CNBC TV18.
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