Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi High Court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor
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FRL's appeal was mentioned before a Joint Registrar of the high court who allowed it to be listed for hearing on Thursday
Shares of Future Retail on Wednesday declined 5 per cent amid concerns related to the deal with Reliance Retail.
Following the Tuesday directive, FRL had said it would explore legal recourse
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Amazon, locked in protracted legal disputes with Future, alleges the Indian firm violated contracts by agreeing to sell its retail assets to Reliance Industries last year. Future denies wrongdoing
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Petition also talks about seizure of assets for violating an arbitration court's order to temporarily halt Future Group's $3.4-bn deal with RIL
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Market regulator had given a go-ahead to Future Group's scheme of arrangement and sale of assets to Reliance for the $3.4 billion deal
On the BSE, Future Retail Ltd''s shares hit the upper circuit of Rs 81.35, rising 4.97 per cent over the previous close
Sebi gave a go-ahead to Future Group's scheme of arrangement and sale of assets to Reliance
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SEBI has advised that Future should share various details of company's ongoing litigation with Amazon when it approaches India's National Company Law Tribunal
The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August
The Jeff Bezos-led e-commerce giant has further urged the markets regulator to direct the Indian Stock Exchanges to do the same
The Court issued a notice in the matter and listed it for further hearing on February 12