Amazon moves SC to block Future-Reliance deal

By: |
February 12, 2021 8:37 AM

Amazon on Thursday moved the Supreme Court in its bids to block the Delhi High Court’s division bench’s order which said that regulatory agencies can give their nod to the Future Group-Reliance Retail deal based on merits.

amazonIt is said that the division bench had hastily passed the impugned order without waiting for the detailed order of the single judge and without appreciating the “Group of Companies” doctrine.

Amazon on Thursday moved the Supreme Court in its bids to block the Delhi High Court’s division bench’s order which said that regulatory agencies can give their nod to the Future Group-Reliance Retail deal based on merits.

In doing so the division bench had lifted the stay ordered by its single judge that status quo be be maintained with regards the to deal till it pronounced its final order in the matter.

Terming as “illegal” and “arbitrary” the division bench’s order delivered earlier during the week, Amazon said that it will face “irreparable harm” if the SC did not intervene as “the more progress made to complete the Future-Reliance deal, the harder it will be to unravel it. Over time, the interests of additional third parties may also become entwined with the impugned transaction and be subsequently compromised”.

It is said that the division bench had hastily passed the impugned order without waiting for the detailed order of the single judge and without appreciating the “Group of Companies” doctrine.

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