InvestorQ : What is the latest by the CCI on the Amazon / Future Group tussle?
manisha Kolvenkar made post

What is the latest by the CCI on the Amazon / Future Group tussle?

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Crowny Pinto answered.
5 months ago
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The Competition Commission of India or CCI, which regulates industry domination and unfair pricing, has accused Amazon of concealing material facts and making false submissions when it had sought approval for its investment in Future Coupons. It may be recollected that in 2018, Amazon had bought a stake in Future Coupons and that had been the bone of contention in its ongoing legal tussle with Future group.

This submission by the CCI actually adds a new angle to the ongoing legal feud going on between Amazon and Future group pertaining to the sale of stake in Future Group to Reliance Retail. While the deal was closed in Aug-20, Amazon had demanded first right of refusal for Future Retail on account of its 49% holding in Future Coupons. If the CCI has strong grounds, it could result in penalty and also nullification of the original deal.

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