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Amazon vs Future: In huge relief to Kishore Biyani company, SC asks regulatory agencies to stay proceedings for 4 weeks

The SC bench also asked all regulatory authorities, including the NCLAT, CCI and the SEBI, not to pass final orders on the Future-Reliance deal for four weeks.

September 09, 2021 / 02:11 PM IST

The Supreme Court (SC), on September 9, stayed proceedings before the Delhi High Court on enforcement of the Emergency Award in the legal tussle between Amazon and Future Retail.

The SC bench also asked all regulatory authorities, including the NCLAT, CCI and the SEBI, not to pass final orders on the Future-Reliance deal for four weeks.

A bench comprising of Chief Justice of India NV Ramana, Justice Surya Kant and Justice AS Bopanna was hearing a plea filed by Future Coupons  against a Delhi High Court single judge order. The apex court also issued a notice in connection with plea.

"Nothing will happen in four weeks. Issue notice. Taking into consideration the challenge to Emergency Arbitrator award is pending before tribunal under SIAC Rules," the Court noted, as quoted by legal news website Bar & Bench.

A single judge bench of Justice JR Midha on March 18, 2021 had directed for attachment of property of Future group companies and their promoters including Future Group founder Kishore Biyani.

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(This is a developing story. Please check back for updates.)

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Moneycontrol News
first published: Sep 9, 2021 01:40 pm

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