The Supreme Court, on Monday, put a stay on all the proceedings before Delhi High Court which is related to Future Retail’s Deal with Reliance Retail. It’s in connection with the enforcement of Singapore’s Emergency Arbitrator’s interim award against Rs. 24,713 crores.
As of now, the matter was being heard by the single judge bench of Delhi High Court and before a division bench as well. However, the order of single judge bench was being opposed by the division bench. Meanwhile, Amazon was filing appeal before the Supreme Court.
However, this whole process will go on like this only as the main issue regarding the amalgamation of the Future Retail and Reliance Retail is being heard before the Mumbai bench of National Company Law Tribunal, and no final order before any other court can be passed before it disposes off the matter.
Thus, the matter is simultaneously being heard before the SC and various benches of the Delhi High Court as well.