You are here: Home » Companies » News
Business Standard

Supreme Court defers hearing Amazon, Future case amid Covid-19 surge

The Supreme Court has not stopped Future Group and Reliance Industries from working towards a deal.

Topics
Amazon | Future Group Future Retail | Future Group Kishore Biyani

BS Web team 

future retail, future group, big bazaar, bazar

The has deferred to June 28 hearing the dispute between and Future dispute as it attends to cases related to Covid-19 pandemic, Mint reported on Wednesday.

“The feels this case be kept on hold until the surge in covid-19 cases is contained. Cases related to oxygen supply to hospitals, provision of covid beds, vaccines and medicines are more urgent," Mint quoted a person close to the matter.

The top court was scheduled to hear the case between US-based e-commerce giant and Kishore Biyani’s Future Group over the Rs 24,713 crore deal between Future and Ltd on Tuesday.

The delay may come as a temporary setback for since it will give Future Group and RIL two more months to work towards their proposed deal and realign operations, restructure businesses and transition Future Group’s staff and retail stores such as Big Bazaar and fbb.

The has so far not stopped Future Group and RIL from working towards the deal.

“The top court wants to focus its attention and resources only to resolve “super-urgent" cases for the time being until the wave of this raging pandemic recedes," it quoted a second person as saying.

According to the people Mint quoted, the Singapore International Arbitration Centre (SIAC) may conduct its own hearing in the meantime and pass the final arbitration award before India’s top court hears the matter.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 05 2021. 08:40 IST
RECOMMENDED FOR YOU
.