Amazon moves Supreme Court in Future-Reliance deal dispute
E-commerce major Amazon has moved the Supreme Court in a bid to block Future group's Rs 24,713-crore deal with Reliance, according to sources.
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New Delhi: E-commerce major Amazon has moved the Supreme Court in a bid to block Future group's Rs 24,713-crore deal with Reliance, according to sources.
The development comes after a recent Delhi High Court's ruling that stayed a previous order on status quo of the deal and ruling that statutory authorities cannot be restrained from acting in accordance with law. Amazon has approached the Supreme Court in the matter against Future, sources close to the development said. Future and Amazon did not respond to e-mailed queries. The High Court order on Monday came over an urgent petition moved by FRL after a single-member bench directed maintaining status-quo over Future's deal with Reliance.
The scheme of arrangement has already received approval from CCI and no objection from SEBI and bourses, following which it had approached NCLT Mumbai on January 26, 2021.
