The interim order came after Future Retail approached the court last month against a temporary injunction Amazon got from a Singapore arbitration tribunal to halt the Reliance deal.
Move to carry out sale of the entire Future Retail undertaking through a series of inter-connected transactions will set a dangerous precedent and could hurt public interest.
Kishore Biyani-led Future Retail Ltd alleged that the e-commerce giant was interfering in its deal with Reliance Retail on the basis of an interim order passed by a Singapore arbitrator.
Amazon agreed to buy 49% of Future Coupons Ltd with the option to buy all or part of its shareholding in Future Retail, though this won’t be exercisable until between 3 and 10 years.
The Italian term sprezzatura—a studied nonchalance that conceals intention—best captures the spirit of Trump’s foreign policy so far. The pattern is unpredictability, transactionalism, and disruption as diplomacy.
With 20.2 percent of its total loans in default by the end of last year, Bangladesh had the weakest banking system in Asia. Despite reforms, it will take time to recover.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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