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The National Company Law Appellate Tribunal (NCLAT), refrained from granting Interim relief to Amazon

Retail Hits: 1737
The National Company Law Appellate Tribunal (NCLAT), refrained from granting Interim relief to Amazon
Retail Hits: 1737

14 January 2022, Mumbai:

The National Company Law Appellate Tribunal (NCLAT) on Thursday refrained from granting Interim relief to US e-tailer Amazon in its plea challenging a Competition Commission of India (CCI) order that temporarily suspended the approval for its purchase of 49% stake in Future coupons (FCPL), an unlisted Future Group company.

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Amazon has hinged its legal battle on the FCPL investment to block Future Group's sale of assets to Reliance Retail for Rs 25,000 crore Amazon had approached NCLAT on January 8 to challenge the CCI order after a division bench of the Delhi high court stayed ongoing arbitration proceedings before a Singapore tribunal.
Source TOI dt 14-01-2022

 

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