Future gets NCLT go-ahead to conduct shareholders meeting for deal with Reliance: Sources

The National Company Law Tribunal (NCLT) on Tuesday allowed Kishore Biyani-led Future Group firms to hold meetings of its shareholders and creditors to seek approval for the sale of assets to Reliance Retail Ltd.

A Mumbai-based two-member NCLT bench comprising Suchitra Kanuparthi and Chandra Bhan Singh dismissed the application filed by e-commerce major Amazon opposing the scheme of merger of the Future group companies, sources close to the development said.

Emails sent to Amazon and Future did not elicit any response.

Amazon had filed an application objecting to NCLT considering the scheme pending completion of its arbitration proceedings against Future Retail.