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Relief for Future Group as SC halts seizure of assets ordered by Delhi HC

SC asks NCLT, CCI, SEBI not to go any remaining order for 4 months in make a difference connected to Future-Reliance Retail merger offer

Future Retail | Supreme Court

BS Web Team 

In an interim reduction for Future Group, Supreme Court on Thursday stayed all proceedings for attachment pending in advance of Delhi Significant Court.

The apex court stayed all proceedings in advance of the Delhi Significant Court on Amazon’s petition trying to get enforcement of Singapore Crisis Arbitrator’s award restraining Future Group from heading in advance with its in the vicinity of Rs 25,000-crore offer with Reliance Industries for using around the retail business enterprise.

SC claimed it is making an attempt to harmony pursuits and directed statutory authorities – NCLT, CCI and SEBI – to not go remaining order relating to approval of Future-Reliance offer. Supreme Court posted Future Group’s attraction for even more hearing just after 4 months to await Crisis Arbitrator’s final decision on Future’s objection to proceedings by Amazon.

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Very first Published: Thu, September 09 2021. thirteen:27 IST