SC halts Future Retail deal with Reliance after Amazon plea
Proceedings before the NCLT will go on but will not culminate into any final order on the amalgamation of Future Retail with Reliance, says the Supreme Court
BusinessToday.In | February 22, 2021 | Updated 12:59 IST
Future Retail promoter Kishore Biyani and other will have to submit their replies in the next three weeks
In a blow to Reliance and Future Retail, the Supreme Court on Monday sought responses from the Kishore Biyani-led company and others on e-commerce giant Amazon s plea against the Delhi High Court direction to maintain the status quo on the Future-Reliance deal. A bench comprising Justices RF Nariman and BR Gavai issued notices to Future Retail, Kishore Biyani and others, and sought their replies in the next three weeks.
Amazon vs Future Retail: E-comm giant moves SC against Biyani s deal with Reliance
Amazon says Future violated its contract by signing a retail asset sale agreement with RIL in 2020. Future promoter Kishore Biyani denies any wrongdoing and accuses Amazon of playing dog in a manager
BusinessToday.In | February 11, 2021 | Updated 12:57 IST
Delhi High Court also turned down Amazon s request to keep its order in abeyance for a week
In the ongoing legal fight between Jeff Bezos-led Amazon Inc and Kishore Biyani s Future Retail group, the e-comm giant has moved the Supreme Court, challenging the Rs 24,713 crore retail asset sale to Mukesh Ambani-led Reliance Retail Ltd.