Future deal: Delhi High Court declines to injunct Amazon from writing to regulators

New Delhi, December 21 The Delhi High Court on Monday allowed Amazon to oppose before regulators a Rs 24,713-crore deal by Future Retail Ltd to sell assets to Reliance Retail but said the US e-commerce giant’s attempt to control Future...

Tribune News Service

Updated At : 12:21 PM Dec 22, 2020 IST

New Delhi, December 21

The Delhi High Court on Monday allowed Amazon to oppose before regulators a Rs 24,713-crore deal by Future Retail Ltd to sell assets to Reliance Retail but said the US e-commerce giant’s attempt to control Future Retail is violative of FEMA and FDI rules.

Asking statutory authorities/regulators to take a decision on Amazon’s objections in accordance with the law, Justice Mukta Gupta, however, did not void Future Retail’s Board approval for the Rs 24,173- crore deal with richest Indian Mukesh Ambani’s firm Reliance Retail. — PTI

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