FRL-Reliance merger: Supreme Court notice to Future group on plea of Amazon
Deccan ChronicleNew Delhi: The Supreme Court Wednesday sought a response from the Future group on Amazon's plea against the January 5 order of the Delhi High Court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance. The Delhi High Court on January 5 had stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance. In October last year, the high court had declined to stay the arbitral tribunal's order refusing to interfere with the Emergency Award, which restrained Future Group from going ahead with the deal with Reliance. Prior to this, the apex court, in a verdict on February 1, had set aside three Delhi High Court orders including attachment of properties of FRL and its directors and the refusal to grant a stay on the final arbitral award which had restrained FRL from going ahead with the merger deal with Reliance Retail and had ordered fresh adjudication.