NEW DELHI: Market regulator Sebi has given its approval to Reliance Industries’ Rs 24,713 crore
acquisition of Future Retail. However, the approval carries certain terms and conditions as the deal has been legally challanged by Amazon.
Bombay Stock Exchange in its observation report stated that the comments on the draft scheme of arrangement are “subject to the outcome of any of the ongoing litigations/ arbitration/ legal proceedings involving the draft scheme and/ or the decision by any competent authority/ competent court in this regard”.
Future will have to seek shareholders’ nod for the deal as well as get approval from the National Company Law Tribunal (NCLT).
Future Retail has also been advised by the exchanges to furnish all the matters related to the deal before its shareholders.