05-March-2021
Corporate News
 
Future-Reliance deal: Supreme Court halts NCLT approval
23-Feb-2021

The Supreme Court on Monday prevented the National Company Law Tribunal (NCLT) from taking a final call on the Rs 24,713-crore deal between Kishore Biyani-led Future Retail (FRL) and Reliance Retail, even as it allowed the tribunal to go ahead with the proceedings for merger of Future group and Mukesh Ambani’s Reliance group firms. The apex court’s decision to overturn the Delhi High Court’s February 8 ruling that lifted a freeze on the deal and allowed the NCLT to grant its approval for it based on merits is a positive for American e-commerce giant Amazon, which is keen to scuttle the deal.

News Source:- https://www.financialexpress.com/industry/future-reliance-deal-sc-halts-nclt-approval/2199759/