NCLT puts on hold shareholders meeting of Future Retail

The National Company Law Tribunal (NCLT) on Monday has put on hold a shareholders meeting of Future Retail NSE -0.30 % Ltd (FRL) that was proposed to held later this month after Amazon objected to the meet citing previous rulings by courts including the Supreme Court, two people familiar with the development said.

In September, the NCLT had allowed FRL to convene meetings of its shareholders and creditors to seek approval on a sale proposal of the retailer’s assets to Reliance NSE -0.13 % Retail. The meeting was initially scheduled to happen on 11th of November. Then FRL lately approached the NCLT seeking the tribunal’s approval to reschedule the same meeting between 26th-30th November, one of the persons said.