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Amazon-Future Coupons Deal: NCLAT Upholds CCI Order, Directs Amazon To Pay Rs 200 Crore
Posted
June 13, 2022
Views
3,284
Likes
24
Engagement
0.73%
June 13, 2022
3,284
24
0.73%
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1:56Now PlayingThe National Company Law Appellate Tribunal (NCLAT) upheld the Competition Commission of India's (CCI) order suspending the e-commerce giant’s deal with Future Coupons.The NCLAT has also ordered Amazon to pay the penalty of Rs 200 crore within 45 days. The US based e-commerce company has been fined for non-disclosure of relevant information on combinations under the Competition Act, 2002.The tribunal states that Amazon had not made a "full, fair, forthright" disclosure about its strategic interest in Future Retail Ltd - Future group's publicly listed company which ran its flagship banner of Big Bazaar.
#amazon #nclat #futurecoupans
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