Delhi HC stays order on Future Retail’s asset sale


The Delhi High Court on Monday stayed its February 2 interim order to Future Retail Limited (FRL) and various statutory authorities to maintain status quo with regard to its assets sale deal with Reliance Retail.

The bench of Chief Justice D.N. Patel and Justice Jyoti Singh said that statutory authorities such as the National Company Law Tribunal, Competition Commission of India, and the SEBI, cannot be restrained from proceeding in accordance with the law with regard to the deal. The order came on an appeal filed by FRL challenging the February 2 interim order by a single judge bench directing status quo with regard to its assets sale deal with Reliance Retail.

The February 2 order came on the plea of Amazon seeking enforcement of an order of the emergency arbitrator at the Singapore International Arbitration Centre restraining FRL from taking any steps to transfer its retail assets.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *