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Future Retail informs BSE, NSE about Delhi HC order, says Amazon's attempt to control the company violative of FEMA FDI rules


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Future Retail informs BSE, NSE about Delhi HC order, says Amazon s attempt to control the company violative of FEMA FDI rules
ANI |
Updated: Dec 23, 2020 22:18 IST
Mumbai (Maharashtra) [India], December 23 (ANI): Future Retail on Wednesday wrote a letter to BSE and NSE regarding Delhi High Court s recent judgement and apprised that Amazon s attempt to control the company is violative of FEMA FDI rules. It also informed stock exchanges that regulators are free to decide Future-Reliance deal as per the law.
The letter informed BSE and NSE that the company (Future Retail) has complied with the disclosure requirement under applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by submission of the copy of the court order. ....

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Regulators will decide Future-Reliance deal: Delhi HC


Regulators will decide Future-Reliance deal: Delhi HC
ANI |
Updated: Dec 21, 2020 17:44 IST
New Delhi [India], December 21 (ANI): The Delhi High Court on Monday held that the statutory authorities or regulators will decide on the approval of the Future-Reliance deal as per the law and declined a plea of Future Retail Ltd to restrain Amazon from interfering in its deal with Reliance Retail on the basis of an interim order of Singapore International Arbitration Centre.
A single-judge bench of Justice Mukta Gupta, while passing a detailed judgement said that the Securities and Exchange Board of India (SEBI) and the Competition Commission of India (CCI) will decide on Amazon s objections to Future Retail-Reliance Group deal. ....

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