Debangana Ray
Published on June 13, 2022 at 19:05 IST
The National Company Law Appellate Tribunal has ordered the suspension of the deal between Amazon and Future coupons.
the bench comprising of Justices M Venugopal and Ashok Kumar Mishra has ordered Amazon to pay Rs. 200 Crore as penalty within 45 days.
The Competition Commission of India had suspended the two-year deal between the e-commerce giant and Future Coupons Pvt Ltd. The Fair trade regulator alleged that Amazon had suppressed information when seeking clearances for the transactions between them previously.
The NCLAT which on Amazon Plea, concluded its hearing in April of this year. The Tribunal upheld the orders which had been passed by the CCI.
Amazon had also opposed a deal for Rs. 24713 crore between Future Coupons Pvt Ltd and Reliance Industries which was later called off.