Business Companies 14 Jan 2022 NCLAT issues notices ...

NCLAT issues notices to CCI, Future Coupons on Amazon plea

DECCAN CHRONICLE. | SANGEETHA G
Published Jan 14, 2022, 8:59 am IST
Updated Jan 14, 2022, 12:44 pm IST
The appellate tribunal admitted the petition filed by Amazon challenging the CCI order
The NCLAT issued notices to the CCI and Future Coupons in the plea and asked them to submit replies within 10 days. The case will be heard on February 2. — DC Image
 The NCLAT issued notices to the CCI and Future Coupons in the plea and asked them to submit replies within 10 days. The case will be heard on February 2. — DC Image

Chennai: The National Company Law Appellate Tribunal has issued notices to the Competition Commission of India and Future Coupons in a plea filed by Amazon, challenging the antitrust watchdog's December 17 order. However, the NCLAT did not take up the petition seeking interim relief in the CCI order.

The appellate tribunal admitted the petition filed by Amazon challenging the CCI order, which "kept in abeyance" the approval given to Amazon's acquisition of a stake in Future Coupons in 2019—a deal that has been at the centre of a legal battle between Amazon and Future Group.

 

The CCI also had imposed Rs 202 crore penalty on the e-commerce company, ruling that it had not disclosed true and complete details of the deal while seeking approval.

The NCLAT issued notices to the CCI and Future Coupons in the plea and asked them to submit replies within 10 days. The case will be heard on February 2.

The NCLAT did not take up Amazon's plea seeking interim relief in the CCI order but agreed to hear its plea once all parties are present.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->