CAIT appeals CCI to revoke 'Amazon Future Coupon Deal' nod

11 November 2021, Mumbai:

Traders' body CAIT on Wednesday said it has urged the Competition Commission of India to revoke the approval granted to Amazon two years ago for its Future Coupons, alleging that the e-commerce major had made false statements for getting the regulatory nod.

The development has come following Future Retail Ltd's (FRL) independent directors on Sunday writing to the Competition Commission of India (CCI) Chairman on the matter.

The Confederation of All India Traders (CAIT) also wrote to the CCI highlighting the claims made by Future Retail's independent directors,

Paragraph 16 of the Commission's order dated 28-11-2019 Amazon's investment in FCPL states that the approval given by the Commission to Combination stands revoked if, at any time, the information provided by the Acquirer is found to be incorrect. So in our view the Commission has no alternative to revoking the approval," CAIT said.

ET

(The news article has not been edited by DFU Publications staff)

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