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SC to decide on Amazon's plea restraining Future Group-Reliance's ₹24,000 Cr deal on Aug 6

SC to decide on Amazon's plea restraining Future Group-Reliance's ₹24,000 Cr deal on Aug 6
republicworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from republicworld.com Daily Mail and Mail on Sunday newspapers.

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Explained: Why Future Retail shares fell 10% today

Explained: Why Future Retail shares fell 10% today
indiatoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatoday.in Daily Mail and Mail on Sunday newspapers.

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SC restrains NCLT from approving Rs 24,000 FRL-Reliance scheme

NEW DELHI: The Supreme Court on Monday allowed National Company Law Tribunal (NCLT), Mumbai, to continue proceedings on Kishore Biyani-led Future Retail Ltd plea seeking permission for calling shareholders meeting to approve its Rs 24,713 crore retail asset sale deal with Reliance Retail but asked the tribunal not to pass final orders sanctioning the deal.
A big fight between Jeff Bezos global retail giant Amazon, eying to consolidate position in the huge Indian retail market, and the Biyani group, owner of the biggest retail chains in India through FRL, broke out when FRL decided to dump Amazon to go with Reliance Retail. ....

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Delhi High Court stays direction to maintain status quo on Future-Reliance deal

Delhi High Court stays direction to maintain status quo on Future-Reliance deal
The bench declined Amazon s request to keep its order in abeyance for a week so that it can explore appropriate remedies.
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By PTI
NEW DELHI: The Delhi High Court on Monday stayed its single judge direction to Future Retail Ltd (FRL) and various statutory authorities to maintain status quo with regard to the Rs 24,713 crore deal with Reliance Retail.
A bench of Chief Justice D N Patel and Justice Jyoti Singh passed the interim direction on FRL s appeal challenging the February 2 order of the single judge. ....

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Delhi HC Stays Direction to Maintain Status Quo on Future-Reliance Deal

Delhi HC Stays Direction to Maintain Status Quo on Future-Reliance Deal
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The Delhi High Court on Monday stayed its single judge direction to Kishore Biyani-led Future Retail Ltd (FRL) and various statutory authorities to maintain status quo with regard to the Rs 24,713 crore deal with Reliance Retail. A bench of Chief Justice D N Patel and Justice Jyoti Singh passed the interim direction on FRL s appeal challenging the February 2 order of the single judge.
The bench also declined US e-commerce giant Amazon s request to keep its order in abeyance for a week so that it can explore appropriate remedies. The court while staying the February 2 order said that statutory authorities, like National Company Law Tribunal, CCI and SEBI, cannot be restrained from proceeding in accordance with law with regard to the deal. ....

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