Amazon on Thursday approached the Supreme Court against Future Group's $3.4 billion retail assets sale to Reliance Industries. The E-commerce giant termed a Delhi High Court judgment revoking a previous single judge decision blocking the deal "illegal" and "arbitrary", reported Reuters. The Delhi High Court had on Monday stayed an order on status quo of the deal and ruling that statutory authorities cannot be restrained from acting in accordance with the law. "The more progress made to complete Future-Reliance deal, the harder it will be to unravel it," said Amazon. In May, Amazon was considering increasing its stake in Future Retail, people familiar with the matter said at the time.

Source: Mint February 11, 2021 11:35 UTC