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The Supreme Court on Friday ruled in favour of Amazon in a case that pitched the American online major against India’s original retail king Kishore Biyani’s Future Group and Mukesh Ambani’s Reliance Retail, which is set to go big on e-commerce. The ruling puts the $3.4-billion merger deal between Future and Reliance on hold for now.
The top court allowed the appeal filed by Amazon against a Delhi High Court order staying attachment of properties of Future Group companies and Biyani in relation to a Future-Reliance Retail merger deal worth Rs 24,713 crore ($3.4 billion). The Bench of Justices Rohinton
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