The top court noted that the proceedings before the NCLT are at stage 8, meeting of shareholders, and that there are 15 stages for the final approval of the scheme.
The top court granted liberty to Future Retail to move the high court seeking continuation of proceedings before NCLT beyond Stage 8. “Approach the Delhi High Court”, the bench told the Future’s counsel.
The detailed copy of the judgment will be uploaded later in the day.
The top court had reserved orders on Future’s plea on the issue of whether NCLT proceedings in connection with its deal with Reliance can be permitted to continue and could it be allowed to go ahead with the steps of the scheme.
(Published in arrangement with IANS)