Advertisement
Saturday, Dec 03, 2022
Outlook.com
Outlook.com

Amazon Approaches NCLAT, Challenges CCI's Suspension Of 2019 Future Deal: Report

In December last year, the CCI had suspended its more than two-year-old approval for Amazon's deal with Future Coupons and imposed a Rs 202-crore penalty on the e-commerce major.

Amazon Approaches NCLAT, Challenges CCI's Suspension Of 2019 Future Deal: Report
Amazon Approaches NCLAT, Challenges CCI's Suspension Of 2019 Future Deal: Report
outlookindia.com
2022-01-09T13:16:17+05:30

Amazon.com on Saturday filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission’s of India (CCI) order for suspension of its deal with Futures Group, Reuters reported citing sources. The appeal on the matter will be heard next week.

The development comes days after the Delhi High Court had stayed the Amazon-Future arbitration which had been going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.

Notably, in December last year, the CCI, India's anti-trust agency, had suspended its more than two-year-old approval for Amazon's deal with Future Coupons, a promoter of Future Retail, and imposed a Rs 202-crore penalty on the e-commerce major.

Amazon and Future Group have been embroiled in a legal tussle after the US-based tech giant alleged Future Group of violating the terms of its 2019 deal in deciding to sell retail assets to Mukesh Ambani’s Reliance Industries. However, Future Group denies any wrongdoing.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement