Dikhyaa Mohanty 
E-commerce Amazon has now moved Supreme Court against the Future-Reliance Retail deal were stimulating the lifting of status quo orders by the division bench of Delhi High Court.
A division bench of the Delhi High Court led by Chief Justice DN Patel had lingered a single judge’s direction of 2nd February establishing a provisional solidify on the agreement between Future Retail and Reliance. The deal which is worth rupees 24,713 crores has been asked to move as the US-based e-tailer has termed the Delhi High Court judgment invalidating a previous single judge decision hindering the deal as “illegal” and “arbitrary”.
This order came of FRL’s appeal seeking a stay of the 2nd February order where FRL alleged that due to the status quo position, the proceedings before the National Company Law Tribunal (NCLT) for establishing the amalgamation scheme were carried up. This could be an unmitigated catastrophe for the company with its terminals over India being shut and nearly 25,000 employees losing their subsistence.
According to Sonam Chandwani, Managing Partner at KS Legal & Associates, Amazon considers that the intervention is enforceable. And they are regulated up to take the fight to India’s Supreme court.
The 8th February order of the Delhi High Court noted that the Statutory authorities should not be restricted from progressing following the law on the Future-Reliance deal while elevating the single judge’s status quo direction.
To which Amazon’s petition stated that the greater the progress made towards the achievement of the challenged act, the harder it will be to interpret it. Over time, the interests of additional third parties may also become weaved with the business and be consequently negotiated.
The court also recorded that as part of Amazon’s investment agreement into Future Coupons, Future Retail was not a signatory to that investment agreement.
News Source – CNBC TV18
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