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Amazon asks Sebi to withdraw approval of $3.4 billion Future-RIL deal

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US e-commerce giant Amazon has written to Ajay Tyagi, chairman of the market regulator Securities and Exchange Board of India (SEBI) and other top executives to seek conditional approval from Future Retail Limited (FRL) in relation to the $3.4 billion merger in to pull. deal between Future Group and Reliance. The letter has also been sent to other top officials on exchanges such as BSE Limited and the National Stock Exchange of India Limited (NSE).

In August 2019, Amazon acquired a 49 percent stake in Future Coupons, Future Retail’s promoter entity, for approximately Rs 1,500 crore. Amazon is now fighting a legal battle with FRL to stop the Kishore Biyani-led retailer from its $3.4 billion deal with Reliance Industries Limited (RIL).

Amazon has requested Sebi and the exchanges to act on behalf of the binding injunctions against FRL, FCPL (Future Coupons Pvt Ltd) and the Biyanis, in terms of the EA Order and the Order on Vacate Application and the Observation Letters immediately to call.

“We refer to our previous correspondence, including the letter dated October 30, 2021. We would like to reiterate that the EA Order has been passed by the Emergency Arbitrator preventing FRL, FCPL and the Biyanis from taking any action related to, promoting or for the purposes of the Affected Transaction,” said Amazon’s Nov. 24 letter and seen by Standard Business.

Future Group and Amazon have not responded to the inquiry regarding this issue.

In the letter, Amazon said it is reiterating that FRL has struck down the observation letters of the SEBI and the Indian stock exchanges in violation of the binding directions in the EA order. Accordingly, it said the observation letters violate the EA Order, have no legal basis and are null and void.

“We would like to reiterate subsequent developments regarding the EA injunction that confirm the position that the observation letters were obtained in violation of binding injunctions against FRL, FCPL and the Biyanis, and are thus null and void,” the letter said.

ALSO READ: Future Retail guilty of financial irregularities, Amazon says

On October 25, 2020, an emergency arbitrator formed under the rules of the Singapore International Arbitration Center, 2016, passed the EA injunction containing the instructions against FRL, FCPL and the Biyanis. This included banning respondents from taking any steps to promote or support the decision of the FRL board of directors on August 29, 2020 regarding the disputed transaction. Without prejudice to the rights of the current promoter-borrowers, Respondents are directed to take direct or indirect steps to transfer/dispose of/dispose of/encumber FRL’s retail assets.

Despite the binding instructions in the EA injunction, Amazon said FRL continued to pursue approval of the disputed transaction by labeling the EA injunction “null and void.”

“FRL has made several announcements in this regard to SEBI and the Indian stock exchanges, which have been issued in direct violation of the EA Order, in a brutal attempt to undermine the rule of law. On the basis of such offensive behavior, FRL misled SEBI and the Indian stock exchanges and accelerated the Observation Letters,” the letter alleged.

Saddened by the violations of the EA injunction, Amazon said it was forced to initiate enforcement proceedings before the Hon’ble Delhi High Court to enforce the EA injunction. On March 18, 2021, the Hon’ble Delhi High Court issued the enforcement judgment.

FRL, FCPL and the Biyanis have challenged the enforcement judgment on the grounds that the EA injunction, which is a “nullity”, could not be executed. On August 6, 2021, the Hon’ble Supreme Court upheld the legality and enforceability of the EA Order.

“The Supreme Court ruling constitutes the law of the country under Article 141 of the Constitution of India and must be complied with,” the letter said.


ALSO READ: Amazon’s letter is nothing but an afterthought, says Future group

Amazon claimed that although FRL had labeled the EA Order a “nullity” and continued to act contrary to its instructions, it approached the arbitral tribunal to revoke the EA Order. FRL filed a petition in this regard (“Leave Request”) on March 11, 2021, along with a petition challenging the jurisdiction of the Tribunal (“Legal Objections”).

On September 9, 2021, the Hon’ble Supreme Court adjourned Amazon’s enforcement proceedings before the Hon’ble Delhi High Court pending the orders to be issued by the arbitration tribunal on FRL’s vacancy request. The Hon’ble Supreme Court did not suspend the enforcement order or any of the directions in the EA Order.

On October 20, 2021, the arbitral tribunal issued the Partial Award on Jurisdiction rejecting FRL’s Jurisdiction Objections. The operative directions in the Partial Award on Jurisdiction include that it has jurisdiction over FRL in this arbitration for the purpose of its finding that each of the parties is bound by the FCPL SHA (Future Coupons Pvt Ltd) arbitration agreement, including FRL notwithstanding its not -signing status.

On October 21, 2021, the arbitral tribunal passed the Order on Vacate Application, rejecting FRL’s Vacate Application and reaffirming the directions in the EA Order, according to Amazon’s letter. On October 29, 2021, the Hon’ble Delhi High Court rejected FRL’s request for an ad interim suspension of the Order on Vacate Application.

“Thus, the directions in the EA Order will be binding and effective against FRL as of October 25, 2020, and have now been reaffirmed by the arbitral tribunal,” the letter said. “FRL’s pursuit of clearing the disputed transaction for SEBI and the Indian stock exchanges clearly violated the instructions in the EA injunction. The Observation Letters were thus obtained unlawfully and are void in the eyes of the law.”

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Sikkim State Lottery Best SOFT morning results

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Sikkim’s ‘Dear Gentle Morning’ lottery is a popular weekly lottery. The face value of the ticket is ₹6. The first prize is ₹50 lakhs. The second prize is ₹9,000. The third prize is 500, the 4th prize is ₹250 and the 5th prize is 120 and will be given to the holders of tickets with matching serial numbers.

In addition to these prizes, there is a consolation prize of 1,000. The draw of the weekly ‘Dear Gentle Morning’ lottery on Saturday will be announced at 11:55 AM.

Sikkim state lottery results for December 5, 2021

The latest Sikkim Lottery results for today have been updated on the official website which is http://www.sikkimlotteries.com/.

The seven weekly competitions organized by Sikkim Lottery are:

Sikkim Lottery – ‘Dear Loving Morning’ – It is held every Monday morning and the results are announced at 11:55am. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Best Sincere Morning’ – It is held every Tuesday morning and the results are announced at 11:55 AM. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Dear Faithful Morning’ – It is held every Wednesday morning and the results are announced at 11:55am. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Dear Kind Morning’ – It is held every Thursday morning and the results are announced at 11:55am. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Dear Tender Morning’ – It is held every Friday morning and the results are announced at 11:55am. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Dear Gentle Morning’ – It is held every Saturday morning and the results are announced at 11:55am. The value of the first prize is ₹50 Lakh.

Sikkim Lottery – ‘Best Affectionate Morning’ – It is held every Sunday morning and the results will be announced at 11:55 AM. The value of the first prize is ₹50 Lakh

The prize structure of the Sikkim State Lottery Sambad

The cost of one ticket is 6. The winner of the first prize can claim ₹50 lakhs. The second prize holder can claim 9,000, the third prize holder can claim 500, while the 4th prize holder can claim ₹250. There is also the 5th prize, where the winner can claim an amount of 120. a consolation prize of ₹1000 given to multiple participants. The latest Sikkim Lottery results for today have been updated at 11:55 am on the official website which is http://www.sikkimlotteries.com/.

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Ollie Robinson inspired by Flintoff’s Ashes tourists, but with a different result

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Ollie Robinson inspired by Flintoff's Ashes tourists, but with a different result
Ollie Robinson is inspired by memories of watching the Ashes from the stands (Nigel French/PA) (PA Wire)

Ollie Robinson is inspired by memories of watching the Ashes from the stands (Nigel French/PA) (PA Wire)

Ollie Robinson caught the Ashes bug after Andrew Flintoff’s England team around Australia as a teenager, but is convinced that he can deliver a different result this time.

Robinson, who is inked to take the field in the series opener in Brisbane on Wednesday, took an extended Christmas break from his private school Canterbury to travel Down Under for the 2006-07 game.

A 5-0 whitewash may not have been the score he hoped for, but the journey proved a formative experience for young Robinson, who was particularly drawn to Flintoff’s combative style.

Andrew Flintoff was an inspiration to the teenage Robinson (Gareth Copley/PA) (PA Archive)

Andrew Flintoff was an inspiration to the teenage Robinson (Gareth Copley/PA) (PA Archive)

Fifteen years later, he will be the man in the middle at The Gabba and is optimistic about the prospects of getting the urn back.

“I haven’t been here to play before, but I saw the test match here when I was 13,” he said.

“That was quite special and I was lucky to be here. There were moments in that series that I remember, I think ‘Freddie’ got 80 one day (in Sydney) and I remember thinking he was just taking it to the Aussies.

“Growing up, that’s what I wanted to do and how I wanted to play my cricket. It’s really inspiring to see that as a youngster and now hopefully try to emulate how Flintoff and other players did. I feel like we’re definitely the underdogs, but we can take the urn home.”

Though a five-cap rookie, Robinson has already proved his quality with 28 wickets at an average of 19.60 and also showed in a highly charged run against India this summer that he is no shrinking fiddle on the international stage.

He was happy to exchange a few words with Virat Kohli’s men and it looks like he won’t back down in the coming weeks either.

“I don’t think, as a person, I could keep my head down if I tried,” he explained.

“They are just home fans here too, so we have to be prepared for them to come at us hard and the challenge will be tough.

“I’m definitely going to try and get under their skin and kind of upset them, basically batters and bowlers. If I can get them out of their rhythm we’ll be winning, so it’s something you’ll definitely see and hopefully we’ll come out on top.”

I’m definitely going to try to get under their skin and shake them up a bit. The Aussie chat is pretty atrocious.

Asked about the attention he expected in return, he was no longer conciliatory.

“The Aussie chat is pretty awful if I’m honest,” he added.

Both teams have had little meaningful training, with continued rain in Queensland reducing the warm-up schedule to a few chaotic sessions rather than the scheduled multi-day matches.

But while England have had a typically busy year of test cricket at home and abroad, Australia have not put on their Baggy Greens since their defeat at home to India in January. With their multi-format players also arriving at the last possible moment due to their win at the recent T20 World Cup, Robinson believes England have their noses up for when it comes to preparedness.

“Obviously it wasn’t ideal preparation, it was tough, but as a group we feel like we made it with what we were given,” he said.

“We feel in a good place and we have an edge over the Aussies, which is the most important. They were at the World Cup (final) and in quarantine so they are probably a few weeks behind us. We feel we have a good job in us since we’ve been here and hopefully that will give us an edge in the first test. ”

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West Bengal State Lottery Dear BANGASREE ICHAMATIA

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West Bengal Lottery Sambad ‘Dear Bangasree Ichamati’ is a popular weekly lottery held on Sundays. The cost of a one-way ticket is ₹6. The first prize is ₹50 lakhs. The consolation prize is ₹1,000 awarded to multiple valid ticket holders. The second prize is ₹9,000. The third prize is ₹500 for multiple winners, while the 4th prize of ₹250 will be awarded to several eligible winners. The 5th prize of ₹120 is given to many lottery holders with matching serial numbers. The lottery results will be announced at 4 p.m.

On Sunday the lottery “Dear Bangasree Ichamati” takes place. The highest prize won in the Sambad Sunday lottery is ₹50 lakhs. The second prize is 9000. The third prize is ₹500 and the fourth prize is 250. The fifth prize is 120, and there is also a consolation prize of ₹1000. The results of West Bengal State Lottery Sambad “Dear Bangasree Ichamati” are announced every Sunday at 4 p.m. The West Bengal Lottery systems have their official website where they announce the results. West Bengal Sambad Lotteries latest result for November 14, 2021, will be updated at 4pm on the official website which is http://www.lotterysambad.com/today.html

Best Bangasree Ichamati Lottery Sambad Results | 5th of December

The state lottery of West Bengal has 7 weekly matches in the afternoon. These games are listed below-

West Bengal State Lottery: “Dear Bangalakshmi Teesta” – It will be conducted on Monday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangalakshmi Torsha” – It will be conducted on Tuesday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangalakshmi Raidak” – It will be conducted on Wednesday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangabhumi Bhagirathi” – It will be conducted on Thursday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangabhumi Ajay” – It will be conducted on Friday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangasree Damodar” – It will be conducted on Saturday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

West Bengal State Lottery: “Dear Bangasree Ichamati” – It will be conducted on Sunday afternoon and the results will be announced at 4pm. The first prize is ₹50 Lakh.

Lottery Sambad Results: Important Things to Remember

If your ticket is equal to the winning number, you must be present at the West Bengal Gazette office to claim the prize. The number and lottery are only valid for 30 days from the date of declaration of the West Bengal state lottery day declaration. The number and ticket are checked for authenticity. After the complete process, one can take home the winning amount. The lottery and processing office is located in the State Lottery Department of West Bengal. After verification, the amount will be received net of taxes.

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