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0:02 Introduction about the company
In this video we will learn about Future Retail Latest News !! Amazon Vs Future Group Case updates from Supreme Court. Reliance Deal
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If Amazon Wins, It Will Get Rs 1400 Crores, But 26,000 Employees Of Future Retail Might Lose Jobs : Salve In Supreme Court
"This matter is about 1,400 crores invested by Amazon versus 26,000 employees losing their jobs and 8-10,000 crores of banks going bust. If Amazon wins, it will get its 1,400 crores, but one of our terms with Reliance is that not even a single employee will lose his job and the banks will be paid", Senior Advocate Harish Salve, for Future Retail, told the Supreme Court on Tuesday.
The Bench of Justices Rohinton Nariman and B. R. Gavai was hearing Amazon's challenge to an order dated March 22 passed by a Division Bench of the Delhi High Court staying a Single-Judge order which had upheld the Emergency Award passed by a Singapore Tribunal halting the Reliance-Future deal worth Rs. 24,713 crores. Amazon contends that it had invested Rs.1431 Crore in Future Coupons based on certain special, material protective/negative rights available to FCPL in FRL (namely, that the Retail Assets of FRL would not be alienated without Amazon's prior written consent, and never to a Restricted Person, and that FRL would remain the sole vehicle for conduct of its retail business), and the entire investment was invested by FCPL into FRL.
Mr. Salve took the bench through the aforesaid order of the Single Judge, Justice J. S. Midha,arguing how it was erroneous in law.
"When I am saying that the order of the Emergency Arbitrator is null and void for two reasons – one, that there is no notion of any emergency arbitrator under Indian law, and two, that there is no arbitration agreement in any case between Amazon and myself, the executing court cannot blindly say because the Emergency Arbitrator has said something, I will execute it! The Single Judge heard all our arguments and then says you have not argued nullity?! This is what happens when we rush execution! It should be expeditious, but not at others' cost!", advanced the Senior Advocate.
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01:06 - Fundamentals of the stock
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2. https://www1.nseindia.com/
3. https://www.bseindia.com/
4. https://www.moneycontrol.com/
5. https://www.economictimes.com/
03:06 - Technicals Analysis of the stock
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