Trade 18-08-2021 Hits: 2689

Delhi HC to implement order stalling Future Group Deal

Trade 18-08-2021 Hits: 2689

17th August 2021, Mumbai:

What deals a blow to Furture Group that Delhi HC will execute the single judge order stalling FRL on 17th Aug observing that it is looking at implementing the single-judge order restraining Future Retail (FRL) from proceeding with the ongoing deal with a business consideration of Rs 24,713-crore to sell its business interest to Reliance Retail.

It is important to re-iterate that the aforementioned case is been objected & argued vehemently to by US-based e-tailer biggie Amazon, shall it not to get no stay is from the H'ble Supreme Court in four(4) weeks.

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Justice Suresh Kumar Kait, is hearing Amazon India's plea for enforcement of the award by Singapore's Emergency Arbitrator (EA) restraining FRL from moving ahead with the deal, said contextually in case the stay is not the outcome from the apex court/ SC, there will be no headroom available but to enforce the order passed by Justice JRMidha on March 18. "So the writing is clear on the wall, Either get a stay within 2-3 weeks on March 18 order or adhere to with the order to avoid inevitability. This court is completely run out of options," the judge said reports, PTI

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