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HC stays single judge order for status quo in Future, Reliance deal

The court also issued notice to Amazon and sought its stand on FRL's appeal by February 26

Topics
Amazon India | Future Retail | Reliance Retail

Press Trust of India  |  New Delhi 

future retail, future group, big bazaar, bazar
Future Retail runs several well-known supermarket chains such as Big Bazaar (File photo)

The on Monday stayed its single judge direction to Ltd (FRL) and various statutory authorities to maintain status quo with regard to the Rs 24,713 crore deal with

A bench of Chief Justice D N Patel and Justice Jyoti Singh passed in the interim direction on FRL's appeal challenging the February 2 order of the single judge.

The bench also declined Amazon's request to keep its order in abeyance for a week so that it can explore appropriate remedies.

The court while staying the February 2 order said that statutory authorities, like National Company Law Tribunal, CCI and SEBI, cannot be restrained from proceeding in accordance with law with regard to the deal.

The court also issued notice to Amazon and sought its stand on FRL's appeal by February 26 when it will commence day-to-day hearing of the matter.

The February 2 order had come on Amazon's suit seeking enforcement of the Emergency Arbitrator (EA) order restraining FRL from going ahead with its Rs 24,713 crore deal with

The October 25, 2020 EA order by the Singapore International Arbitration Centre (SIAC) had restrained FRL from going ahead with the deal with Mukesh Ambani's

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First Published: Mon, February 08 2021. 17:59 IST
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