Amazon moves SC against Delhi HC stay order restraining Future Retail deal with Reliance

April 14, 2021 14:59

Future Retail on Wednesday said Amazon has approached Supreme Court against a Delhi High Court order which stayed a single judge's order restraining Future Retail Ltd from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business.

"The company's advocates are in receipt of communication dated April 13, 2021, from advocates of Amazon.com NV Investment Holdings LLC informing that Amazon has filed a Special Leave Petition before the Supreme Court of India against the captioned order dated March 22, 2021 passed by the Division Bench of the High Court of Delhi," Future Retail informed the stock exchanges. Future Retail said it will "defend the matter/proceedings through our legal counsels".

On March 22, the Delhi High Court stayed a single judge's order restraining Future Retail Ltd (FRL) from going ahead with the deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon.

A division bench of Chief Justice D N Patel and Justice Jasmeet Singh also issued notice to Amazon on Future Group's appeal challenging the single judge's March 18 judgment on the deal by which all the objections raised by them were rejected. "We hereby stay the order of the single judge dated March 18, 2021, till the next date of hearing, the bench said and listed the matter for further hearing on April 30."

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