Amazon India-FRL case: Amazon Has 60 Days To Re-Appeal

Amazon India-FRL case: Amazon Has 60 Days To Re-Appeal

18 December 2021, Mumbai:

Amazon has 60 days to re-appeal for approval with "true, correct, and complete information.

Till then, the order for approval for the 2019 Amazon-FRL deal "shall remain in abeyance", says CCI.

Amazon has few options, including appealing to a higher court or approaching NCLAT

In 2019, Amazon had acquired 49% in Future Coupons (FCPL), an unlisted Future Group entity, for 1,500 crores.

Since FCPL held aro 10% in Future Retail (Future Amazon claimed this gave it rights over the latter.

After the announcement of a Future-Reliance deal, Am dragged FRL to a Singapore arbitration court for alleged violation of contracts.

SOURCE: ET TOI dt 18-12-2021   (The news article has not been edited by DFU Publications staff)

 

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

 

DAILY NEWS:

 

 

Return to homepage

 

eZine

Author’s Posts

  • 62nd JOINT TECHNOLOGICAL CONFERENCE

    To be inaugurated by: Hon’ble Minister of Textiles, GoI, Giriraj Singh

    Oct 16, 2024

  • Brazil cotton over-reliance on exports!

    Marcelo Duarte Monteiro, Director ABRAPA who is based out of Singapore delivered a s...

    Oct 09, 2024

  • The 3rd Global Cotton Conference

    The 3rd Global Cotton Conference is just around the corner, scheduled for October 7, 2024, at La Shan...

    Oct 01, 2024

  • NISTI-IIT Delhi Joint Conference on Sustainability in Textiles and Clothing

    Emerging Trends in Fibers, Fabrics, Processes, and Fashion

    Sep 30, 2024

  • ICAHT-2024: OGTC

    23 September 2024, Mumbai

    DFU
    Inside Fashion Vol. 23 No. 2
    Azad
    EasiTex