Reliance deal: Amazon in Supreme Court against Future’s meetings

Following the order by the Singapore arbitration tribunal, which largely goes in its favour, Amazon.com has filed a fresh plea in the Supreme Court against the National Company Law Tribunal’s order which allowed Future Retail (FRL) to convene meetings of its shareholders and creditors for seeking approval to sell its retail assets to Reliance Retail.

Amazon has sought to restrain FRL’s proposed meetings, which are scheduled to be held on November 10 and 11. The notices for the meetings were issued by FRL on October 11. Amazon told the SC that the NCLT’s September 28 order was “in gross violation” of the apex court’s September 9 order that asked the statutory authorities, including NCLT, to put on hold all the proceedings related to the merger deal.