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SC bars NCLT from finalising orders allowing $3.4 bn Future-Reliance deal

A bench headed by Justice Rohinton Nariman also ordered that while the proceedings before NCLT can go on, they should not culminate in any final order of sanction of the scheme

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In August 2020, the Future group struck a $3.4-billion asset sale deal with RIL. Amazon then sent a legal notice to Future, alleging that the deal breached an agreement with the e-commerce firm

Peerzada Abrar Bengaluru

6 min read Last Updated : Feb 23 2021 | 1:17 AM IST

The Supreme Court on Monday sought a response from Future Retail Limited (FRL) in a plea by e-commerce giant Amazon challenging the Delhi High Court order which had stayed the implementation of status quo direction passed by single-judge of the High Court with respect to the $3.4 billion Future-Reliance deal.

A bench headed by Justice Rohinton Nariman also said that while the proceedings before National Company Law Tribunal (NCLT) can go on, they should not culminate in any final order of sanction of the scheme.

“Issue notice. Dasti in addition. To come up after three weeks. Rejoinder to be filed

Topics : Future Group Reliance Industries Supreme Court Amazon

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