SEBI Clears Reliance-Future Group’s 24,000 Crore Deal

Mumbai, 21/1: The Securities and Exchange Board of India (SEBI) on Wednesday cleared Reliance Industries’ ₹ 24,713-crore deal to buy Future Group’s retail assets. The news has come as a big blow for Amazon who was trying its best to block the deal.

The Bombay Stock Exchange (BSE) also granted its “no adverse observation” report to the deal the clearance from the market regulator that included some riders.

According to BSE, the SEBI has said the case pending before the Delhi High Court and arbitration proceedings by the global e-commerce major Amazon contesting the deal should be specifically mentioned by Future Group while seeking shareholders or the National Company Law Tribunal approval.

It added, SEBI’s nod to the draft scheme of arrangement would be subject to the outcome of these proceedings.