The Delhi High Court has granted a stay on the FRL (Future Retail Ltd.) - Reliance Industries deal. All the parties involved in the Amazon vs. FRL case have been asked to maintain the status quo till the reserve order is passed.

 

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Justice Midha has directed the central government and all statutory authorities to maintain their status quo. He spoke that the court is satisfied that immediate orders are necessary to protect the rights of the petitioner till the pronouncement of the reserve order. He has further asked FRL to file an affidavit on FRL’s actions in the said matter. According to the court, it was of the prima facie view that the order of Singapore International Arbitration Centre (SIAC) emergency arbitration that asked Future Retail to not proceed with the deal is enforceable in India was valid.

Amazon had approached the Delhi HC seeking directions to order enforcement of the award by Singapore's Emergency Arbitrator (EA) restraining FRL from going ahead with its ₹24,713 crore deal with Reliance Retail.

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