Future Group challenges Delhi High Court order blocking deal with Reliance Retail

0 20,528

Biznextindia :  Future Retail on Wednesday filed an appeal before the Delhi High Court challenging Tuesday’s order which had blocked the Rs.25000 Crore (USD 3.4 billion) retail asset sale to Reliance Retail.

“Please be informed that the Company has filed an appeal before Hon’ble High Court of Delhi against the impugned order dated 2nd February, 2021 passed by Ld. Single Judge in OMP (Enf.) (Comm.) No. 17 of 2021” Future retail informed the bourses.

On Tuesday, Delhi High Court directed all authorities and parties to maintain a status quo with respect to implementation of the Future-Reliance deal until a detailed interim order on the case. Rival Amazon had gone to the High Court against the deal.

Shares of Future Retail dropped 5% to 77.60 in early trade on Wednesday.

Leave A Reply

Your email address will not be published.