Supreme Court To Hear Future Group, Amazon Pleas Over Reliance Deal
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Supreme Court To Hear Future Group, Amazon Pleas Over Reliance Deal

Newsdesk |
November 11, 2021

The Supreme Court has agreed to hear the Future Group's plea against the Delhi High Court's refusal to stay a Singapore tribunal order that froze the ₹ 24,731 crore transaction with Reliance Retail.


New Delhi, 11 November 2021

As per news report of NDTV,The top court will hear this matter on November 23. Significantly, the court also asked the Future Group to not pursue this matter at any other forum till it hears the case. The Future Group plea had sought court permission to hold meetings with shareholders and creditors to seek approval for the deal with Reliance Retail. The court has also agreed to hear a plea by e-commerce giant Amazon - which is looking to block the Future-Reliance deal - that seeks to restrain Indian regulators from granting necessary clearances. Amazon has said the proposed Future-Reliance merger violates a 'no-compete' deal between itself and the Future Group. A notice has been issued by the court in this context.

Source - NDTV
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