In Brief
Future Retail Limited (FRL) sought to continue NCLT proceedings for approval of a scheme of arrangement with the Reliance Group, despite an Emergency Arbitrator's injunction and a Delhi High Court enforcement order in Amazon's favour. The Supreme Court declined to grant direct interim relief, but permitted FRL to approach the High Court on remand with an application to continue proceedings beyond the shareholder/creditor meeting stage. The Court directed the High Court to balance all contentions—including FRL's insolvency threat, employee welfare concerns, and the 6–8 month statutory timeline against Amazon's enforcement rights—and pass orders expeditiously without being bound by the Supreme Court's observations.
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