HC directs Future Retail not to take further action on Reliance deal, holds that it wilfully violated Singapore Arbitrator's order
Objections from the competition regulator and powerful retailers' associations could prompt a tightening of foreign direct investment rules for the online sellers
The Kishore Biyani-led group's debt had spiralled out of control last year, forcing it to get into a nearly Rs 25,000-crore transaction with Reliance Retail
The Supreme Court earlier today ordered the NCLT not to pass a final order on the Future-Reliance deal
India is set to clear 45 investment proposals from China as border tensions ease; HSBC ups India's FY22 GDP forecast to 11.2%
A bench comprising Justices R F Nariman and B R Gavai issued notices to Future Retail Ltd, Chairperson Kishore Biyani and others and sought their replies
This follows report claiming e-commerce giant dodged Indian regulations
Says it has no locus standi in Future's plea to hold shareholder meeting; reserves order
The e-commerce giant has contended that the Division Bench order is illegal, and arbitrary apart from being without jurisdiction
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Business operations were continued to be impacted by the pandemic during the quarter
Future Group is caught in the middle of this tussle between companies helmed by two of the world's richest men
The keenly watched case may set an important legal precedent for investors on whether emergency decisions by foreign arbitrators are valid in India
The Indian government has challenged in the Singapore High Court an international arbitration tribunal's verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc
Court notes that Future Retail wasn't party to arbitration agreement with Amazon and prima facie "group of companies" doctrine can't be invoked in this case
The court also issued notice to Amazon and sought its stand on FRL's appeal by February 26
This week, the Delhi High Court directed Biyani's flagship company to maintain the status quo on its Rs 24,713-crore deal to sell his business to Reliance
Earlier, Future Retail Limited lawyer had argued that the retail firm may go bust and thousands may lose jobs if the Future-Reliance deal does not go through
The Delhi High Court is hearing the appeal filed by Future Retail Limited (FRL) against the Court's order passed earlier this week
Future Retail Ltd further tumbled 5 per cent on Thursday as investors continued to sell the company's shares for the second consecutive day.