Future Retail-Reliance deal row: SC stalls HC proceedings

NEW DELHI: The Supreme Court on Thursday struck a balance between the interests of Amazon and Reliance Industries (RIL), engaged in a high stakes litigation from Singapore to Delhi over the Kishore Biyani-led group’s ‘Future Retail’. The apex court stalled the Delhi HC proceedings over enforcement of emergency arbitrator’s (EA’s) interim award halting the RIL’s Rs 25,000-crore offer to take over retail chain.

If on one hand, it stopped enforcement of the Singapore-based EA’s interim award being sought to be enforced by Amazon through a petition in the HC, the court, on the other, restrained the statutory authorities — National Company Law Board,