Amazon moves Supreme Court to block anti-trust review of Future Group deal: Report


New Delhi: In a new development on the Future Group deal, Inc. has asked the Supreme Court to block an expedited review of allegations that the US firm hid information while seeking antitrust clearance for its 2019 deal with Future Group.

In June, the Competition Commission of India (CCI) accused Amazon of concealing facts and making false submissions when it sought approval for a $200 million investment in the Future unit in 2019, legal papers seen by Reuters showed.

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The deal remains at the core of protracted legal disputes between the two parties. Earlier, Amazon has expressed confidence to Reuters to address the watchdog’s concerns.

Amazon’s appeal to the Supreme Court comes after CCI’s closed-door hearing on Wednesday, when lawyers for the US firm declined to argue the matter and explain their position, saying they asked the top court to stop the process. Said.

The watchdog noted in an internal document – seen by Reuters – that it had decided not to give the company any detail to explain its position and would now issue an order in due course.

Amazon and CCI did not immediately respond to requests for comment. The CCI’s decision is crucial to Amazon’s legal challenges.

What to expect from the verdict?

According to Reuters sources, if the CCI rules against Amazon and revokes the 2019 approval, it could have an impact on the US firm’s ongoing legal battle with Future.

That’s because Amazon has so far successfully used the 2019 Future Unit deal to argue a breach of contract, when the Indian company last year announced plans to sell its retail assets to Reliance Industries for $3.4 billion. .

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 liquidation.