NEW DELHI: Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company Law Tribunal (NCLT).
The regulatory filing by the Kishore Biyani-led entity comes in the wake of a warning by Amazon which wants to block the deal. Earlier this week, US retailer shot off a letter to FRL’s promoters alleging that the meetings are “illegal” due to injunctions granted by a Singapore-based emergency arbitrator which had put the Rs 24,700-crore proposed deal on hold.
