Home / Companies / News / In relief for Amazon, Delhi HC puts Future-Reliance deal on hold

In relief for Amazon, Delhi HC puts Future-Reliance deal on hold

The court held that Future Retail, Future Coupons (the promoter entity of Future Retail), founder and owner Kishore Biyani and others violated the Emergency

The Kishore Biyani-led group is in stake sale talks with Reliance Industries

Premium

While Future Group has been asked to not take any further action in the advancement of the deal with Reliance, Biyani and others are required to appear before the High Court on the next date of hearing in April

Peerzada Abrar Viveat Pinto Bengaluru/Mumbai

4 min read Last Updated : Mar 19 2021 | 2:17 AM IST

In a win for e-commerce firm Amazon, the Delhi High Court on Thursday upheld the Emergency Award passed against the $3.4-billion Future-Reliance deal. The order, passed by a single-judge Bench of Justice J R Midha, will restrain Future Retail from going ahead with the deal. The court also imposed a penalty of Rs 20 lakh on Future and the money will go to the Prime Minister's Relief Fund.

The court held that Future Retail, Future Coupons (the promoter entity of Future Retail), founder and owner Kishore Biyani and others violated the Emergency Award. Issuing a show-cause notice to Biyani and

Topics : Delhi High Court Future Group Future Retail Reliance Industries Kishore Biyani Arbitration Amazon

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in