Representational image.
Representational image.

Supreme Court to hear Amazon’s plea to stall Future-Reliance deal today

The US retail giant is also banking on the October 25, 2020 Emergency Arbitrator order passed by the Singapore International Arbitration Centre that had restrained FRL from going ahead with the deal with Reliance Retail
UPDATED ON FEB 22, 2021 11:15 AM IST

The Supreme Court will on Monday hear a petition by e-commerce giant Amazon, which has appealed against an order of the Delhi high court lifting the restraint against the 24,713 crore deal between Kishore Biyani-led Future Retail Limited (FRL) and Mukesh Dhirubhai Ambani’s Reliance Retail.

A bench of justices Rohinton F Nariman and BR Gavai will take up the plea by United States-based Amazon to restore the status quo on the FRL-Reliance deal till the time various legal issues related to the matter are finally decided by the high court.

Amazon, in its appeal, among a host of legal issues, has primarily questioned the maintainability of FRL’s petition before the Delhi high court’s division bench against the interim order on the single judge who had restrained the Future Group from proceeding further with entities of the Reliance Group.

Also Read | Future Group creditors scramble to recover $2.5 billion loans

The US retail giant has also banked on the October 25, 2020 Emergency Arbitrator (EA) order passed by the Singapore International Arbitration Centre (SIAC) that had restrained FRL from going ahead with the deal with Reliance Retail.

“No provision for appeal is provided against an order passed under Section 17(2) of the Arbitration and Conciliation Act. The respondents (FRL) have not challenged the EA order itself, but have preferred to challenge the single judge order enforcing the EA order,” said the Amazon’s petition in Supreme Court.

It added that the single judge’s status quo order was passed for the limited purpose of preserving the rights of the parties till pronouncement of final orders and the division bench of the Delhi high court ought not to have issued its order “hastily”.

Pointing out the consequences of lifting the status quo, Amazon’s petition said, “The greater the progress made towards the completion of the impugned transaction, the harder it will be to unravel it. Over time, the interests of additional third parties may also become entwined with the transaction and be subsequently compromised.”

On February 8, a division (two judge) bench of the Delhi high court had stayed a single judge’s direction of February 2 that had put a temporary freeze on the deal between Future Retail and Reliance.

The order by the division bench had come on FRL’s appeal, which had claimed that due to the status quo position, the proceedings before the National Company Law Tribunal (NCLT) for approving the amalgamation scheme were held up. This could be an “absolute disaster” for the company with its outlets across India being shut and nearly 25,000 employees losing their livelihood, FRL had contended.

The order, in an appeal before Supreme Court, had noted, “Statutory authorities should not be restrained from proceeding in accordance with law on Future-Reliance deal,” while lifting the single judge’s status quo direction.

SHARE THIS ARTICLE ON
Close
Tewari, one of the 23 leaders who wrote a letter to Congress president Sonia Gandhi seeking internal reform in the party, addressed the Kerala meeting at the invitation of the Congress’s ally, Indian Union Muslim League.
Tewari, one of the 23 leaders who wrote a letter to Congress president Sonia Gandhi seeking internal reform in the party, addressed the Kerala meeting at the invitation of the Congress’s ally, Indian Union Muslim League.

After Jammu G23 meet, Tewari hits campaign

By HT Correspondent, Hindustan Tmes, New Delhi
PUBLISHED ON MAR 08, 2021 03:17 AM IST
  • The meeting came a week after Tewari and other letter writers, the group has been tagged the G23, addressed a meeting in Jammu in honour of retired MP Ghulam Nabi Azad.
Close
In Puducherry, where the party lost power weeks ago, 70 people have hit the ground with the same goal.(PTI)
In Puducherry, where the party lost power weeks ago, 70 people have hit the ground with the same goal.(PTI)

Over 300 people try to gauge mood for Cong in TN, Kerala

PUBLISHED ON MAR 08, 2021 03:12 AM IST
  • In Tamil Nadu, the Congress is in alliance with the Dravida Munnetra Kazhagham (DMK).
Close
Maharashtra, Kerala, Punjab, Karnataka, Gujarat and Tamil Nadu were identified by the Centre as the six regions that have seen a rise in new cases in the recent weeks.(REUTERS)
Maharashtra, Kerala, Punjab, Karnataka, Gujarat and Tamil Nadu were identified by the Centre as the six regions that have seen a rise in new cases in the recent weeks.(REUTERS)

6 states continue to record spike in Covid cases: Centre

By Rhythma Kaul, Hindustan Times, New Delhi
PUBLISHED ON MAR 08, 2021 01:22 AM IST
  • The observations from the Union health ministry come a day after the country reported the largest single-day increase in new Covid-19 infections in two months.
Close
Union minister Smriti Irani addresses a press conference, in New Delhi. (PTI)
Union minister Smriti Irani addresses a press conference, in New Delhi. (PTI)

‘Women are not pleading, they are leading’: Smriti Irani

By Vinod Sharma, Hindustan Times, New Delhi
UPDATED ON MAR 08, 2021 12:53 AM IST
  • Smriti Irani says, "I’m the only female politician who’s also recognised by her former vocation. I recognise the bias in that."
Close
Another senior official said on condition of anonymity that the second half of the session, which starts on Monday, may run for just two weeks.(PTI)
Another senior official said on condition of anonymity that the second half of the session, which starts on Monday, may run for just two weeks.(PTI)

2nd half of Budget session may be cut short due to state polls

By Saubhadra Chatterji, Sunetra Choudhury, Hindustan Times, New Delhi
UPDATED ON MAR 08, 2021 12:40 AM IST
  • An official said that both Houses could meet at 11 am from the second week following the vaccination of eligible MPs.
Close
Bodies of the man and his son were found in the house while the bodies of the three woman were found near the house, the official added.
Bodies of the man and his son were found in the house while the bodies of the three woman were found near the house, the official added.

Five of family found dead in Chhattisgarh

By Ritesh Mishra, Hindustan Times, Raipur
PUBLISHED ON MAR 08, 2021 12:27 AM IST
  • A suicide note found at the spot said they took the decision because of acute financial distress, an official said.
Close
Parliament in September 2020 approved an Ordinance promulgated in June to improve revenue from the mining sector and the Centre now wants states to carry out these changes too.(REUTERS)
Parliament in September 2020 approved an Ordinance promulgated in June to improve revenue from the mining sector and the Centre now wants states to carry out these changes too.(REUTERS)

Govt plan to take over mine auctions faces opposition from a few states

By Chetan Chauhan, Gerard de Souza, Hindustan Times, New Delhi, Goa
PUBLISHED ON MAR 08, 2021 12:21 AM IST
  • The changes have been opposed by some states who see it as another attempt by the Centre to take over mining auctions and impose central rules on a state domain.
Close
India must rapidly build and nurture grassroots-based habitat monitoring and governance.(Representational Photo/HT File)
India must rapidly build and nurture grassroots-based habitat monitoring and governance.(Representational Photo/HT File)

India must strive to catch the ecological bus

By Bharati Chaturvedi, Hindustan Times, New Delhi
PUBLISHED ON MAR 08, 2021 12:16 AM IST
  • A re-invigorated biodiversity management policy is India’s survival strategy. At this point in our development trajectory, we don’t pay any heed to either biodiversity or landscape conservation.
Close
Satellite image of NASA's Fire Information for Resource Management System of forest fires.(Courtesy- NASA)
Satellite image of NASA's Fire Information for Resource Management System of forest fires.(Courtesy- NASA)

Early summer, lack of rain spark fires

By Jayashree Nandi
PUBLISHED ON MAR 08, 2021 12:10 AM IST
  • According to Forest Survey of India’s forest fire alert system, there were 2,317 fire points last year between February 26 and March 7, but the figure rose to 53,211 this time after data from the Suomi National Polar-orbiting Partnership (SNPP) was taken into account.
Close
Selvi at the age of 32 rappelled down blindfolded from a 155 feet high rock mountain in a Tamil Nadu village(Representative Image )
Selvi at the age of 32 rappelled down blindfolded from a 155 feet high rock mountain in a Tamil Nadu village(Representative Image )

Woman, 32, mother of two rappels down 155-feet mountain blindfolded in 58 sec

ANI, Kancheepuram
UPDATED ON MAR 07, 2021 11:54 PM IST
The record was entered in the UNICO Book of World Records and was certified by an official adjudicator R. Sivaraman.
Close
The incident took place in Transit Camp Colony of Rudrapur on February 19, 2019, when the boy went missing, Gupta said.(HT file photo)
The incident took place in Transit Camp Colony of Rudrapur on February 19, 2019, when the boy went missing, Gupta said.(HT file photo)

24-yr-old man gets death for rape, murder of 5-yr-old boy

By HT Correspondent, Hindustan Times, Rudrapur
UPDATED ON MAR 08, 2021 12:56 AM IST
Special Pocso judge Vijay Laxmi Vihan also awarded four years of imprisonment to the father of the accused and three years to his mother for concealing the crime, Vikas Gupta, special assistant district government counsel, said.
Close
A charge sheet against the man was also filed in April 2018, prompting him to approach the Allahabad high court for getting the FIR quashed.(Sonu Mehta/HT PHOTO)
A charge sheet against the man was also filed in April 2018, prompting him to approach the Allahabad high court for getting the FIR quashed.(Sonu Mehta/HT PHOTO)

Every breach of promise to marry doesn’t mean rape: SC

By Utkarsh Anand, Hindustan Times, New Delhi
UPDATED ON MAR 08, 2021 01:05 AM IST
An SC bench of justices Dhananjaya Y Chandrachud and MR Shah elucidated the legal position while exonerating a 30-year-old man of the rape charge under Section 376 of the Indian Penal Code.
Close
HT Image
HT Image

Women are not pleading, they’re leading: Smriti Irani

By Vinod Sharma
PUBLISHED ON MAR 07, 2021 10:57 PM IST
New Delhi: On the eve of the International Women’s Day, union minister for women and child development Smriti Irani spoke to HT on the challenges and opportunities the women have in the country, her role as a minister and the BJP’s battle axe against the Congress
Close
"The state government is taking a series of measures to take women on the path of development and progress," K Chandrasekhar Rao said. (HT File photo)
"The state government is taking a series of measures to take women on the path of development and progress," K Chandrasekhar Rao said. (HT File photo)

Telangana government declares holiday for women employees on Women's Day

ANI, Hyderabad, Telangana
PUBLISHED ON MAR 07, 2021 10:55 PM IST
"Women are competing with men in all the fields and are excelling. Women, who constitute 50 per cent of the population, would do wonders if they were given a chance," Chief Minister K Chandrasekhar Rao said.
Close
Mohammed Muthu Meeran Maraickayar died on Sunday(ANI Photo )
Mohammed Muthu Meeran Maraickayar died on Sunday(ANI Photo )

APJ Abdul Kalam's brother Mohammed Muthu Meeran passes way at 104

PTI, Rameswaram
UPDATED ON MAR 07, 2021 10:48 PM IST
Tamil Nadu deputy chief minister O Panneerselvam conveyed condolences over Mohammed Muthu Meeran's demise.
Close
SHARE
Story Saved
OPEN APP