NCLT can continue to hear Future-Reliance scheme

New Delhi, March 22 (SocialNews.XYZ) Future Coupons said on Monday that the NCLT can continue to hear the scheme between Future Group and Reliance as per the directions of the Supreme Court, but no final orders can be passed until the apex court decides on the petition filed by Amazon.

A Division Bench of the Delhi High Court comprising Chief Justice D.N. Patel and Justice Jasmeet Singh has stayed the interim order pronounced by Justice J.R. Midha on March 18 that included certain extreme directions in an earlier interim order originally passed on February 2.

Since the issues are pending before the Supreme Court in a special leave petition filed by Amazon, the Division Bench also took on record the Supreme Court's order, which recorded that the proceedings before the NCLT will be allowed to go without a final order of sanction of the Scheme between Future Group and Reliance.

Senior Advocate Iqbal Chagla, appearing on behalf of the Biyanis of Future Group, argued that propriety demanded that since the Supreme Court was seized of the matter, the learned single judge ought not to have pass such an order especially when the Division Bench had stayed the earlier order.

On this ground alone, the order dated March 18 should be stayed. Senior Advocate Chagla argued that the Single Judge has not even referred to the orders of the Division Bench and the Supreme Court when making such a drastic order.

The Division Bench of Chief Justice DN Patel and Justice Jasmeet Singh concluded its order stating, "We hereby stay the Single Judge order dated March 18, 2021 till next date of hearing."

Accordingly, the NCLT can continue to hear the scheme as per the directions of the Supreme Court but no final orders can be passed until the Supreme Court decides on the petition filed by Amazon, the company said.

Source: IANS