The Supreme Court on Tuesday ordered the Future Group to go to the Delhi High Court for permission to proceed with its case against Reliance before the National Company Law Appellate Tribunal (NCLT).
The high court has listed for hearing on February 24 a batch of pleas concerning the ongoing legal tussle between US e-commerce major Amazon and Future Group over Future Retail Ltd’s (FRL’s) ?24,731 crore merger deal with Reliance Retail.
And meanwhile, the NCLT has adjourned the hearing on Amazon’s petition for an interim stay of the CCI’s order suspending the over-two-year-old permission for its merger with Future Coupons Pvt Ltd until February 25. (FCPL).
The Supreme Court overturned three high court orders on February 1, including the attachment of Future Group and its directors’ assets and the refusal to grant a stay on the final arbitral award that had prevented FRL from proceeding with its deal with Reliance while ordering a new adjudication.
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