Amazon Knocks Supreme Court's Door; Seeks Stay On Future's Shareholders Meet
India, Oct. 22 -- In another turn of events in the Future Group Vs Amazon Inc. case, the US-based ecommerce giant has filed for an interim application in the Supreme Court (SC) as it seeks a stay on the NCLT-approved Future Retail's shareholders and creditors meeting.
In September, the Mumbai bench of the National Company Law Tribunal (NCLT), allowed Future group to hold a meeting to approve its $3.4 Bn deal with Reliance Industries Ltd's (RIL's) retail unit.
The tribunal had also recently allowed Reliance Retail to hold a meeting of its shareholders and creditors seeking their approval for the $3.4 Bn deal, despite objections raised by Amazon.
The move by Amazon comes shortly after Singapore International Arbitration Centre (SIAC) dec...
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