Future-Reliance Deal: Supreme Court Issues Notice on Amazon’s Plea on Court Order to Maintain Status Quo

The apex court said the proceedings before the National Company Law Tribunal will go on.

By Press Trust of India | Updated: 22 February 2021 12:07 IST

Future-Reliance Deal: Supreme Court Issues Notice on Amazon’s Plea on Court Order to Maintain Status Quo

Last month, Amazon had approached the Delhi High Court seeking enforcement of the interim order of the EA

Highlights

A bench comprising Justices R F Nariman and B R Gavai issued notices
The proceedings before the National Company Law Tribunal will go on
The bench says reply to the appeal of Amazon be filed in three weeks

The Supreme Court on Monday sought responses from Future Retail and others on Amazon's plea against the Delhi High Court direction to maintain status quo on the Future-Reliance deal.

A bench comprising Justices R F Nariman and B R Gavai issued notices to Future Retail, Chairperson Kishore Biyani and others and sought their replies.

The apex court said the proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on amalgamation of Future Retail with Reliance.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

While issuing notice distinct to Future Retail and others, the bench says that reply to the appeal of Amazon be filed in three weeks and rejoinder after two weeks thereafter and the Amazon's appeal will be listed for hearing after five weeks.

Last month, Amazon had approached the Delhi High Court seeking enforcement of the interim order of the Emergency Arbitrator (EA) at the Singapore International Arbitration Centre (SIAC) that had restrained Future Retail from going ahead with the deal with Reliance.

Amazon Said to Appeal to Supreme Court in Future-Reliance Deal Dispute

In the interim order on February 8, the division bench said it was staying the single judge order as firstly, Future Retail was not a party to the share subscription agreement (SSA) between Amazon and Future Coupons and the US e-commerce giant was not a party to the deal between Future Retail and Reliance Retail.

Is Samsung Galaxy S21+ the perfect flagship for most Indians? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.