Delhi HC stays order restraining Future-Reliance deal, notice issued to Amazon

In a fresh twist, a division bench of the Delhi High Court stayed the March 18 judgement by Justice JR Midha, who upheld the Singapore Arbitrator's Emergency Award (EA) against the Future-Reliance deal. Here is all you need to know:

A division bench of the Delhi High Court on Monday stayed a single judge’s order restraining Future Retail Ltd's (FRL) Rs 24,713 crore deal with Reliance to sell retail, warehousing and logistics businesses. US e-commerce giant Amazon had earlier objected to the deal and challenged it legally. Chief Justice DN Patel and Justice Jasmeet Singh stayed the recent ruling by Justice JR Midha, who had asked Future Group to not go ahead with the deal. The division bench also issued a notice to Amazon on Future Group’s appeal challenging the single judge’s March 18 judgement on the deal. “We hereby stay the order of the single judge dated March 18, 2021 till the next date of hearing,” the bench said and listed the matter for further hearing on April 30.