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Future-RIL deal skating on thin ice, may even get derailed, say lawyers

Read more about Future-RIL deal skating on thin ice, may even get derailed, say lawyers on Business Standard. They believe the best way forward is for Amazon and Future to negotiate with each other on how to ensure that Future group companies do not end up in bankruptcy courts

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Future-Reliance deal: Future Group challenges Delhi HC order halting its deal in dispute with Amazon

Future-Reliance deal: Future Group challenges Delhi HC order halting its deal in dispute with Amazon
Kishore Biyani, CEO and founder of Future Group
(REUTERS)Premium
The Delhi high court on Tuesday put a hold on Future Group's the ₹24,713-crore retail deal with billionaire Mukesh Ambani's Reliance Industries
Amazon had filed an urgent petition last week seeking detention of Future Group founders, including its promoter Kishore Biyani
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Future Group on Wednesday has challenged the Delhi high court order that has halted sale of its to Reliance Industries Ltd (RIL) on objections retail giant Amazon, the company said in regulatory filing. "Further to our letter dated 2nd February, 2021, please be informed that the Company has filed an appeal before Hon’ble High Court of Delhi against the impugned order dated 2nd February, 2021 passed by Ld," Future Group said.

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RIL-FRL deal: Delhi HC asks if Amazon, Future ready to resolve issues

RIL-FRL deal: Delhi HC asks if Amazon, Future ready to resolve issues
Court was hearing a plea filed by Amazon seeking directions to order enforcement of award by Singapore's Emergency Arbitrator, which restrained Future Group from signing a deal with Reliance Retail
BusinessToday.In | February 2, 2021 | Updated 13:32 IST
Amazon CEO Jeff Bezos and Future Group promoter Kishore Biyani
The Delhi High Court has asked both US e-commerce giant Amazon and Kishore Biyani-led Future Retail Ltd (FRL) if they are open to resolving their issues with regard to the Rs 24,713 crore deal between Reliance Retail and Future Retail. Both companies, via their counsel, have said they will inform the court on February 2.

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Future retail-Reliance deal | Amazon writes to Sebi again, urges it to suspend review of Future-RIL deal

Updated Jan 11, 2021 | 21:58 IST
The US e-commerce major, on the other hand, contends that there were ongoing discussions on multiple options with partners and with the promoters of Future.
Amazon writes to Sebi again, urges it to suspend review of Future-RIL deal
New Delhi: E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the Division Bench of the Delhi High Court against the December 21 order of the single-member bench, according to sources.

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Amazon seeks hold on Future-Relianc deal review in fresh letter to SEBI

In its letter dated January 5, Amazon urged the market regulator to direct the Indian stock exchanges not to issue any no-objection or approval letter to Future Retail Ltd

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