Amazon wrote a letter to SEBI, requesting it not to issue a No Objection Certificate (NOC) to the Future Retail-Reliance Industries deal, and suspend the review immediately soon after it got a stay appeal admitted by the Delhi High Court. Furthermore, it has urged SEBI to direct all the exchanges to do the same.

Amazon in its letter addressed to SEBI on January 14, informed the authority about it appealing to the divisional bench to seek a stay on the deal, while arbitration proceedings were on in the SIAC court. The single bench judge in December had upheld the fact that prima facie, Future Retail Ltd. had a case, as well as it said the emergency award (EA) was valid. However, it further said the decision giving it the power for the approval or disapproval of the FRL-Reliance slump sale of assets was in the hands of SEBI. On January 11, Amazon approached the divisional bench seeking directions. On January 13, 2021, the Division Bench of the Delhi High Court heard brief arguments on the appeal and thereafter, issued notices to the parties, including FRL, and asked for their responses.

Amazon has urged SEBI to suspend the review of the impugned transaction with the scheme involving the impugned transaction. It also requested them not to grant any no-objection concerning the same. According to Amazon, The validity regarding the prima facie observations contained in the Single Judge Order is currently under trial before the Division Bench. The next hearing of the appeal is scheduled to be on February 12, 2020.