Future Retail today touched the 10% UC of the day at Rs.80.50 and even now continues to hover around the same levels.
Yesterday, the Delhi High Court stayed the Single Judge Bench order directing “Status Quo” of Future Retail Limited (FRL) -Reliance Deal.
As per the order issued by the court, Amazon had no reason to seek a status quo order, when it was not interested in the deal.
The Court also observed that statutory authorities cannot be restrained in private litigation from acting in accordance with law.
The bench also declined Amazon's request to keep its order in abeyance for a week so that it can explore appropriate remedies.