Amazon approaches Supreme Court to stop antitrust review of deal with Future Group
Amazonhas approached the Supreme Court seeking a pause on the antitrust review.
- The CCI is investigating allegations that the American e-commerce giant concealed information.
- The investigations are concerned with the company's 2019 deal with the
AdvertisementAmerican tech giant Amazon has reportedly approached the Indian Supreme Court seeking a pause of the ongoing antitrust review against the company’s deal with the country’s Future Group that operates Big Bazaar outlets.
The antitrust review is investigating the allegations that the American e-commerce giant concealed information while seeking antitrust clearance for the 2019 deal with the Future Group.
The Competition Commission of India (CCI) earlier this year accused Amazon of concealing facts and making false submissions while seeking approval for making a $200 million investment into an arm of Future Group in 2019.
The CCI had held a closed-door hearing on Wednesday where Amazon’s lawyers informed the watchdog that the company had asked the country’s apex court to pause the investigation and declined to argue or explain their position on the matter.
According to a report by Reuters, the CCI has decided that it will not give any extensions to Amazon to explain its position on the matter and an order will be passed in due course.
People familiar with the matter told Reuters that a ruling by CCI may prove to be disastrous for Amazon as it will also have an effect on the company’s ongoing legal battle against the Future Group.
Amazon has been using the 2019 deal with the Future Group to stop Mukesh Ambani-led
Amazon, which holds about 3% stake in Future Retail through its 49% shareholding in
Business Insider India has written to Amazon India, seeking a statement about the issue.
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