Amazon has approached the Supreme Court to challenge a Delhi High Court order that had vacated the stay on the deal for the sale of Future Retail to Reliance Retail.
The Delhi HC stayed an earlier single judge order from the same court, which had restrained Future from proceeding with the sale of its assets to Reliance.
In August last year, Reliance Retail announced that it would acquire the retail, wholesale, logistics and warehousing divisions of India’s second-largest retail chain, Future Group for over INR 24K Cr. Soon after, Amazon objected to the deal and served a legal notice to Future Group, arguing that according to its contract with Future, the sale of the business to certain companies, including Reliance, is barred.
Amazon had previously approached the apex court in February after a Delhi HC order had allowed Future to go ahead with the deal. The Supreme Court had then directed the National Company Law Tribunal (NCLT) to proceed with its hearing on the scheme of arrangement for the Reliance-Future deal but not pass any final orders.