Reliance Future Deal: If the stay order is not received from the Supreme Court
| Updated: Aug 18, 2021, 10:10 IST
jaipur desk !!!
The Delhi High Court on Tuesday said it will implement a single bench order restraining Future Retail Ltd (FRL) from going ahead with the deal with Reliance Retail if no stay is received from the Supreme Court within four weeks. FRL has inked a deal to sell its business to Reliance Retail for Rs 24,713 crore, which has been objected to by US e-commerce giant Amazon. Hearing Amazon's plea to enforce an order by Singapore's Emergency Arbitration Court (EA) restraining FRL from proceeding with the deal, Justice Suresh Kumar Kait said that in the absence of any stay from the Supreme Court, Justice J.R. There is no option but to implement the order passed by Midha on March 18.
The Delhi High Court on Tuesday said it will implement a single bench order restraining Future Retail Ltd (FRL) from going ahead with the deal with Reliance Retail if no stay is received from the Supreme Court within four weeks. FRL has inked a deal to sell its business to Reliance Retail for Rs 24,713 crore, which has been objected to by US e-commerce giant Amazon. Hearing Amazon's plea to enforce an order by Singapore's Emergency Arbitration Court (EA) restraining FRL from proceeding with the deal, Justice Suresh Kumar Kait said that in the absence of any stay from the Supreme Court, Justice J.R. There is no option but to implement the order passed by Midha on March 18.