Swarna Shukla –
Published On: November 25, 2021 at 22:30 IST
A review of allegations were concealed by US firm on Amazon.com Inc while seeking antitrust clearance for 2019 deal with future group to which Amazon.com Inc demanded supreme Court to pause
The Competition Commission of India (CCI) in the month of June Accused Amazon of concealing facts and making false submissions when it sought approval for the $200 million investment into a Future unit in 2019, a deal that is now at the heart of protracted legal disputes between the two sides.
Amazon stated the time that it was confident of addressing the watchdog’s concerns. The Supreme Court approach by Amazon comes as the CCI held a closed-door hearing where the US firm’s Lawyers declined to argue and explain their position on the matter, saying they had asked the Apex Court to pause the process.
Amazon and the CCI did not immediately respond to a request for comment. The CCI decision is serious to Amazon’s legal challenges.
If the Competition Commission of India (CCI) rules against Amazon and revokes the 2019 approval, it might have wide-ranging ramifications on the US firm’s ongoing legal battle with Future.
Future, which denies any wrongdoing, accuses Amazon of Illegally interfering in its business decisions and derailing a potential deal without which it says it will face liquidations.