The Supreme Court Thursday stayed all the proceedings before the Delhi High Court for four weeks related to implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail.
A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI) and market regulator Sebi not to pass any final order related to the merger deal for next four weeks.
It considered the statements of senior advocates Harish Salve and
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