The Supreme Court on February 15 granted liberty to Future Retail Ltd. (FRL) to move the Delhi High Court for seeking nod to proceed with the National Company Law Tribunal (NCLT) permission of going ahead with the ₹24,731 crore merger deal with Reliance Retail.
“We grant liberty to FRL to approach the Delhi High Court for seeking continuation of proceedings before the NCLT...We request the single judge [of the high court] to pass orders,” a Bench headed by Chief Justice N.V. Ramana said.
The Bench, also comprising Justices A.S. Bopanna and Hima Kohli, said that the high court should consider the plea of FRL on the issue without being influenced by the observations made in its order.
