News > Amazon not entitled to object, cannot control FRL board: Harish Salve tells Delhi High Court

Amazon not entitled to object, cannot control FRL board: Harish Salve tells Delhi High Court

Moneycontrol | 19/11/2020 03:06 PM | Click to read full article

Amazon is not entitled to object to the Future Group-Reliance Retail Ventures deal because “it doesn’t have skin in the game,” senior advocate Harish Salve told the Delhi Court on Thursday. The former solicitor general of India, who is representing Future Retail, argued that as per the Companies Act 2013, entities with less than 10 per cent shareholding cannot object to the scheme of arrangement.

“Amazon has no rights. FRL was free to act,” he stated.