Amazon urges NCLT not to allow any meeting of Future Group’s shareholders, creditors for approving RIL deal

Amazon has approached the National Company Law Tribunal (NCLT) urging it not to allow convening of any meeting of Future Group’s shareholders or creditors for approval of its proposed Rs 24,713 crore deal with Reliance Industries.
Amazon had last week filed the application before the Mumbai-bench of the NCLT. The NCLT has reserved the order over the scheme of arrangement that entails the consolidation of Future Group’s retail and wholesale business and transferring it to Reliance Industries in the Rs 24,713 crore deal that was announced in August last year.

Amazon, in its application — a copy of which was seen by PTI — informed the NCLT that it has filed an SLP (special leave petition) before the Supreme Court against an order of the Division Bench of the Delhi High Court dated February 8. The high court had on February 8 lifted the ‘status quo’ granted over the deal by a single member bench of the court.