SC halts Reliance-Future Group’s deal on Amazon plea

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The Supreme Court on Monday responded positively to an appeal by e-commerce giant Amazon against the Delhi High Court’s order to maintain the “status quo” regarding the Future-Reliance deal.

A bench comprising Justices R F Nariman and B R Gavai issued notices to Future Retail Ltd, Chairperson Kishore Biyani and others and sought their replies. The apex court directed the National Company Law Tribunal to go ahead with its hearing on the deal but has asked it not to pass any final order on an amalgamation of FRL with Reliance.

On February 2, 2021, the Delhi High Court single bench directed the Future Group to abide by the agreement with RIL. It is known that Amazon has resorted to the Supreme court on this. However, the latest directive from the SC has dealt another blow to Future Group’s deal with Reliance Retail.

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