New Delhi: The Supreme Court on Thursday agreed to hear a new petition from the Retail Future (FRL) which searched for bidding lenders who threatened the bankruptcy process initiation.
The request quoted his direct offer with Reliance Retail for sale of assets for almost RS 25,000 Crore, which was almost stopped due to cross-country litigation initiated by the Amazon American Multi-National.
When senior advocate beat Rohatgi asked for an urgent hearing, the bench headed by CJI NV Ramana said the bench headed by him about a number of problems related to litigation between retail coupons in the future, and Amazon for the sale of retail assets to rely on retail.
“We must hear the argument from Amazon regardless of the banks that have sent bankruptcy notifications,” Cji said and asked the retail future to serve a copy of the petition on Amazon.
Retail of the Future has told SC which since the agreement (with Reliance Retail) has stopped because of the events outside its control (Amazon triggers arbitration where retail in the future is a non-signatory party), it has not been able to monetize it ‘small-format stores and assets other.
It asks SC to direct the lender to attract their notification.