Justice JR Midha went beyond his scope, Harish Salve tells division bench.

In the order issued on September 28, the NCLT asked the Future Group to propose a suitable date to hold the extraordinary general meeting (EGM) of the shareholders and creditors to seek their approval for the sale of its assets to Reliance Retail for a consideration…

Future Retail had moved to Delhi High Court seeking a stay on an interim order passed by the Singapore-Based Emergency Arbitrator on October 2.

In October 2021, US lawmakers had accused Amazon of lying to the US Congress

Future Retail's independent directors write a second later to the competition regulator asking it to revoke nod to Amazon-Future coupons deal; cite internal communications of Amazon to establish its contradictory statement before courts and CCI

In a letter to CCI, the independent directors said Amazon changed its plans from investing directly in Future Retail to buying a stake in Future Coupons after Press Note 2 was released.

The CCI order says Amazon misrepresented the true rationale for buying 49 percent stake in Future Coupons. The US e-commerce giant’s internal correspondence shows that it wanted foot in the door in the Indian retail sector, according to the competition watchdog.

The firm has pled that its deal to sell Rs 25,000 crore worth of assets to Reliance Retail is “virtually stalled” due to litigations across India, initiated by US-based e-commerce giant Amazon

Future Retail's lenders told the court that the banks have nothing to do with either Amazon’s interests in Future Retail’s business or with the asset sale deal between Future Retail and Reliance