Competition Commission of India (CCI) Accuses Amazon in Future deal
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23rd July 2021,Mumbai:
The Competition Commission of India (CCI) has slapped Amazon with a show-cause notice, alleging the Global biggie retailer of a case of misrepresentation & hiding material information in 2019, whilst it was aiming at receiving ,The Anti-trust Watchdog's Approval' in its effort to buy a 49% stake in 'Future Group entity Future Coupons (FCPL)'
This adds a fresh twist and adds a new dimension to ongoing the time-drawn bitterly fought legal battle between Amazon India & Kishore Biyani's Future Group over the proposed sale of FRL to Reliance Industries (RIL) for a business consideration of Rs 24,700 crore.
Amit Agarwal, Country Head, Amazon India
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Amazon India Position
"We are committed to comply with the laws of India and will extend full cooperation to the CCI on this matter. We are confident that we will be able to address CCI concerns"
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