3:37 P.M.
SC reserves verdict on Amazon’s pleas against FRL-Reliance deal
The Supreme Court on Thursday reserved verdict on e-commerce giant Amazon’s pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail and would rule whether Singapore’s Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore deal, was valid under Indian law and can be enforced.
Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the EA award was valid and enforceable, PTI reported.
3:33 P.M.
Tata Sons to acquire 43.3% stake in Tejas Network for ₹1,850 crore
Tata Sons subsidiary, Panatone Finvest Limited has signed a definitive agreement to pick 43.3% stake in Bengaluru-based telecom equipment firm, Tejas Networks, for ₹1,850 crore.
Tejas Networks designs develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and…