New Delhi: The National Company Law Tribunal (NCLT) on Monday temporarily held a retail shareholder meeting (FLL) in the future for the sale of assets proposed to rely on retail after US Retailer Amazon objected, citing the Supreme Court’s command.
This means further delay for the Big Big Bazaar BAZAAR Future Group, which has announced the sale of its assets to rely on retail for RS 24,700 Crore.
Furthermore, FRL on Monday filed a petition to leave specifically before the Supreme Court urged him to postpone the decision of the Singapore International Arbitration Center (SIAC) which had stopped the agreement, according to the submission of regulations.
Initially, it was scheduled to be held on November 10 and 11, the FRL shareholder meeting was suspended to later this month after FRL approached NCLT for the same thing.
In September, NCLT allowed FRL to hold a meeting.
“The future group has included an application to hold a meeting between November 26-30.
Amazon stated that the post-SC decision, Siac Tribunal had given the Delhi’s orders and courts to refuse to provide temporary assistance, so the meeting could not be held.
NCLT has said Until the detailed verdict, the future group cannot hold a meeting for a while, “said a source.
In September, the Supreme Court ordered legal entities such as NCLT, CCI and Sebi not to provide any orders related to the Frl-Amazon dispute as Siac’s decision was in work.
In October, SIC rejected FRL’s request to remain interim on an agreement and made a FLL party for disputes arising from the agreement between FCPL and Amazon.
The development of NCLT came a day after the independent director at FRL, quoted FDI and FEMA’s violations by Amazon, urged the Indian competition commission (CCI) to revoke the agreement given to the agreement between the Amazon and the Coupon of the Future, Future (FCPL), in November 2019.