CCI: To take punitive action against e-commerce businesses violating competition law norms
27 December 2021, Mumbai:
The Competition Commission of India (CCI) will take strict action against any e-commerce company that violates the law in the country in terms of conduct and policies, CCI chairman Ashok Kumar Gupta has clarified.
In a recent blow to Amazon, the CCI withdrew the approval it had given in 2019 to the US-based e-commerce giant to invest in Future Group, a move that would have thwarted the attempts of Reliance Industries Ltd (RIL) to take over Future Group’s retail assets.
Imposing a Rs 200-crore fine on Amazon on December 17, the antitrust body said Amazon's 2019 deal with Future would remain in abeyance as the US e-commerce major misled the regulators about its intentions of investments in the Indian company.
"The order seems to have found new power for CCI to keep the combination approval in abeyance," Shweta Dubey, a former CCI official, had told Mint earlier.
Speaking to The Economic Times, Gupta said CCI’s rulings would provide regulatory guidance to all stakeholders although he refrained from commenting on specific cases.
Cnbc18.com (The news article has not been edited by DFU Publications staff)
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