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)

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