New Delhi, December 21: In a major set back to Future Group, the Delhi High Court on Monday rejected to approve the company's plea seeking an interim injunction restraining e-commerce giant and its stakeholder Amazon Inc from writing to SEBI, CCI and other authorities about the arbitrary order against the Reliance-Future Group deal. This comes a week after Competition Commission of India gave a green signal to the deal. Future Group Files Lawsuit Against Amazon in Delhi HC to Stop E-Comm Major From 'Interfering' in the Rs 24,713 Crore Reliance-Future Deal.

Kishore Biyani-led Future Group had moved to the Delhi HC in order to get relief against Amazon.com’s NV Investment Holdings to stop the latter from interfering in its Rs 24,713 Crore deal with Reliance Industries Limited’s . It had sort an interim injunction at Amazon from “misusing” the interim order passed by the international arbitrator. Amazon Accuses Future Group of Insider Trading; Asks SEBI to Review the Reliance-Future Group Deal.

Amazon had dragged the Future Group at SIAC arguing that its contract restricts the company to sell its assets to several entities including Mukesh Ambani's RIL. The e-commerce giant purchased 49 per cent stake in Future Retail Ltd last year. The international arbitrator ordered a stay on the deal between Future Group and Reliance Industries.

Amazon had earlier written to the Indian markets regulator SEBI asking them them to take into consideration the Singapore arbitrator's interim judgement that has put on hold deal between Future group and RIL while reviewing the proposed transaction. Reliance India Ltd. through its subsidiary Reliance Retail Venture Ltd, announced a deal for acquisition of Future Group's retail arm, including Big Bazaar, Easy day and FBB, for Rs 24,713 crore.

(The above story first appeared on LatestLY on Dec 21, 2020 06:21 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).