Future Retail moves SC for stay on enforcement of SIAC order

Future Retail Ltd (FRL) on Monday filed a special leave petition (SLP) before the Supreme Court after the Delhi high court refused to grant a stay on the enforcement of the Singapore International Arbitration Centre (SIAC) order of October 21 that had gone in favour of Amazon.

The appeal to the top court was filed on a day the National Company Law Tribunal (NCLT) stayed a proposed meeting of shareholders and creditors of FRL that had been called to approve the Rs 24,713 crore-deal with Reliance Retail.

It is not known when the Supreme Court will schedule a hearing on the latest petition by FRL. However, the apex court is due to resume hearing on Thursday on an earlier batch of petitions filed by both FRL and Amazon.