NCLT raps Amazon in Future case: Don't be a 'perpetual objector'

Says it has no locus standi in Future's plea to hold shareholder meeting; reserves order

The National Company Law Tribunal (NCLT) on Friday told Amazon that it should not be a “perpetual objector” and the e-commerce giant had no locus standi in Future Group’s plea to hold a shareholder meeting, according to reports. The tribunal also reserved its orders on the matter regarding nod to Future Group to hold the shareholder meeting for consolidation of assets.

The Mumbai Bench of  the NCLT asked both parties to file written submissions. The next hearing in the matter would be held on February 15.

Future Group had moved an application in the NCLT under Section 230-232 of the Companies Act,