NCLAT refuses to grant interim relief to Amazon, but will hear the appeal

NCLAT refuses to grant interim relief to Amazon, but will hear the appeal


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Highlights

  • tribunal asks cci and fcpl to reply in subsequent 10 days
  • The Competition Commission has suspended the approval given to the Future Retail deal in 2019
  • Along with this, a heavy advantageous of Rs 202 crore was imposed on the e-commerce firm Amazon.

New Delhi. The National Company Law Appellate Tribunal (NCLAT) on Thursday refused any interim relief to e-commerce big Amazon in its plea difficult the CCI order. But listening to the appeal, issued notices to CCI and Future Coupons. The CCI, in its order, has suspended the greater than two-year-old approval given to the cope with Future Group firm Future Coupons Pvt Ltd (FCPL). The appellate tribunal has requested CCI and FCPL to reply inside the subsequent ten days and Amazon to reply to it.

Next listening to will be on February 2

The NCLAT will now hear the matter on February 2. Amazon’s plea was heard by a two-member bench of Justice M Venugopal and Justice VP Singh. The Competition Commission final month suspended its 2019 approval to Amazon’s deal to purchase a 49 per cent stake in Future Retail’s promoter Future Coupons Pvt. Along with this, a advantageous of Rs 202 crore was imposed on the e-commerce firm. While suspending the deal, the CCI had stated that the US e-commerce firm withheld data whereas making use of for approval.

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