Amazon vs Reliance: HC stays direction to maintain status quo on Future deal

The Delhi High Court on Monday stayed its single judge direction to Future Retail Ltd (FRL) and various statutory authorities to maintain status quo with regard to the Rs 24,713 crore deal with Reliance Retail.
A bench of Chief Justice D N Patel and Justice Jyoti Singh passed the interim direction on FRL’s appeal challenging the February 2 order of the single judge.
It said that statutory authorities, like National Company Law Tribunal, Competition Commission of India (CCI) and SEBI, cannot be restrained from proceeding in accordance with law with regard to the deal.
The bench also declined Amazon’s request to keep its order in abeyance for a week so that it can explore appropriate remedies.