The Competition Commission of India (CCI), fines Amazon India Rs 200 crores & suspends Amazon-Future Froup (FRL) deal

18 December 2021, Mumbai:

The Competition Commission of India (CCI) on Friday suspended the US retail giant Amazon’s 2019 deal with Future Retail (FRL) for its deliberate design to suppress information about the scope and purpose of the deal.

In its 57-page order, the competition watchdog said it considered it necessary to examine the combination afresh, given that the two players were known in the online marketplace and offline retailing and had contemplated strategic alignment between their businesses.

The antitrust regulator has imposed a penalty of Rs 200 crore on Amazon to be paid within 60 days of receipt of the order.

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

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage