Will collapse if Reliance Industries deal does not go through: Future to HC

Future Retail (FRL) on Thursday told the Delhi High Court that it intends to proceed with the Rs 24,713-crore deal to sell its retail assets to Reliance Industries and is seeking approval from the National Company Law Tribunal (NCLT) for demerger.

The HC was hearing Amazon’s plea seeking the enforcement of an emergency arbitrator’s order restraining Future Group from going ahead with the deal. Senior counsel Darius Khambata, on behalf of Future Group, told Justice JR Midha that a petition (by Future Consumers) has been filed before NCLT, Mumbai, for demerger as the group has all the necessary regulatory approvals in place.