Amazon-Future case: SC sets aside Delhi HC orders, remands cases back for fresh decision
The Hindu
Amazon has been opposing the Future group decision to go ahead with the ₹24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail.
The Supreme Court on Tuesday, February 1 2022, set aside including the refusal to grant a stay on an arbitration tribunal decision which had restrained Future Retail Ltd from going ahead with its merger deal with Reliance Retail.
A Bench comprising Chief Justice N.V. Ramana and Justices A.S. Bopanna and Hima Kohli remanded the relating to arbitral award on merger deal with Reliance Retail back to the Delhi High Court.
“We set aside the impugned orders dated February 2, 2021 and March 18, 2021 and other impugned order dated October 29, 2021. We direct the learned (HC) judge to consider issue and pass an order on its own merits uninfluenced by observations,” the Bench said in its order.
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