CAIT launches a new CCI complaint against Amazon over its plan to buy More Retail
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25 January, Mumbai: 2022
On January 24, the Confederation of All India Traders filed a complaint with India's Competition Commission alleging that Amazon committed fraud while seeking authorisation to acquire More Retail.
According to the Press Trust of India, "it abundantly shows Amazon's evil ambitions to dominate Indian retail enterprises in a deceptive manner to seize the physical retail trade and inventory-based e-commerce in India, causing immense harm to the traders."
According to CAIT, Amazon willfully misrepresented information in order to deceive the CCI about its plans to acquire More Retails' Indian retail network. When Amazon was attempting to acquire Future Retail, CAIT claimed that it committed the same fraud.
According to the traders' association, Amazon acquired More Retail through Samara Alternate Investment Fund, which has a 51 percent ownership share in Witzig Advisory LLP, which controls More Retail Limited.
This, according to CAIT, is against Indian rules. "As with Future, Amazon has stated to CCI that (a) Amazon has solely made a financial investment in Witzig," according to CAIT's legal complaint. "(a) The rights Amazon has obtained over More Retail Limited are solely investment protection rights, and Amazon has no strategic interest in More Retail."
CAIT has used a variety of tactics to criticize Amazon's commercial operations in India, including media campaigns, strikes, rallies, boycotts, and other tactics. According to the organization, the US corporation is monopolizing India's e-commerce sector and damaging Indian enterprises.
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