Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
BUSINESS

Amazon Accuses Reliance of Collusion With FRL

Picture Source: Internet

The Supreme Court asked the Delhi High Court judge, who is hearing the petitions and counterpetitions filed by Amazon and the Future Group against each other, to hear Amazon’s latest plea to stop Future Retail Ltd (FRL) from transferring its stores to Reliance Industries.


Harish Salve, the senior lawyer representing FRL, urged the court not to pass an order and said he would support taking up the case on a priority basis in the high court. He said the lawyers for the Future Group and Amazon would jointly request Justice C Hari Shankar first to hear Amazon’s plea on Reliance taking over stores of FRL.


Justice Hari Shankar hears the Amazon-Future Group cases on a fast-track basis after the Supreme Court had asked the Delhi High Court to listen to the petitions again and on merit. Amazon had asked to execute the arbitral tribunal’s order to stay the sale of FRL’s assets to Reliance Retail. Amazon has also accused Reliance of being in collusion with FRL to transfer 835 FRL stores to Reliance.

Get Daily Prediction & Stocks Tips On Your Mobile