InvestorQ : What is the latest development in the Amazon / Future legal case?
Angel dcosta made post

What is the latest development in the Amazon / Future legal case?

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Juvina Maggie answered.
4 months ago
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The National Company Law Appellate Tribunal (NCLAT) has agreed to hear Amazon’s plea challenging CCI suspending approval to the 2019 deal with Future Coupons. It may be recollected that the Competition Commission of India (CCI) had alleged that Amazon had made false disclosures while submitting the deal for approval and hence CCI decided to rescind the approval given. NCLAT will hear the challenge plea on 02-February.

Meanwhile, the NCLAT has also directed the CCI and Future Coupons to file their respective replies in the next 10 days before the next hearing. CCI had not only suspended the deal between Future Coupons and Amazon and had also imposed a steep penalty of Rs.200 crore on Amazon for misrepresenting facts. Amazon has already approached Supreme Court to halt FRL’s sale to Reliance Retail. CAIT has also appealed against Amazon in this case.

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