The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Amazon’s plea challenging the decision of regulator CCI to suspend approval for the e-commerce deal with Future Coupons. In December last year, Competition Commission of India (CCI) suspended the approval given by it in 2019 for Amazon’s deal to acquire a 49% stake in Future Coupons Pvt Ltd
Amazon on 25-02-2022 appealed Competition Commission’s decision to keep in abeyance the more than two-year-old approval for the e-commerce major’s deal with Future Coupons Pvt Ltd (FCPL), arguing that the regulator does not have the power to keep its own order in abeyance. The Amazon made the submission before the National Company Law Appellate Tribunal (NCLAT), which is hearing its
National Company Law Tribunal (NCLT), Mumbai court restrained Future Group from calling shareholders meetings to seek approval for its proposed ₹24,713 crore asset sale to Reliance Industries Ltd, in a legal setback for the cash-strapped group. Following a hearing on Monday, the National Company Law Tribunal (NCLT) changed its earlier stance by stopping Future Group companies from holding the meetings.
The Supreme Court stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore’s Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed
