SC Halts Future Group's Reliance Deal on Amazon Plea
The Supreme Court has sought a response from Future Retail Limited in plea by Amazon Investment Holdings challenging the Delhi High Court order which had stayed the implementation of status quo direction passed by single-judge of the High Court with respect to the Future- Reliance deal, Bar and Bench reported.
New Delhi, Feb 22: The Supreme Court has sought a response from Future Retail Limited in plea by Amazon Investment Holdings challenging the Delhi High Court order which had stayed the implementation of status quo direction passed by single-judge of the High Court with respect to the Future- Reliance deal, Bar and Bench reported.
A bench headed by Justice Rohinton Nariman also ordered that while the proceedings before National Company Law Tribunal (NCLT) can go on, it should not culminate in any final order of sanction of the scheme, the report said. Reliance-Future Group Deal: Delhi High Court Rejects Future Groups' Plea Seeking Interim Injunction Against Amazon.
"Issue notice. Dasti in addition. To come up after three weeks. Rejoinder to be filed two weeks thereafter. List thereafter. Meanwhile, the NCLT proceedings will be allowed to go on but will not culminate in any final order of sanction of scheme," the Court ordered.
The Court also made it clear that the Division Bench of Delhi High will not proceed with the matter further after a senior counsel brought the same to the Court's attention.
"Obviously, show them this order. We don't need to say that (specifically)," the Bench said, as per the report.
Amazon had moved the Supreme Court challenging the Delhi High Court order which had stayed the implementation of status quo direction passed by single-judge of the High Court with respect to the Future- Reliance deal.
(The above story first appeared on LatestLY on Feb 22, 2021 12:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).