CCI fined Amazon Rs 200 crore; 2019 deal with Future postponed
Highlight
- The Competition Commission of India has imposed a fine of 200 crores on Amazon.
- Commission also postpones Amazon’s 2019 deal with Future
- CCI has asked Amazon to file a detailed Form II again within a period of 60 days.
The Competition Commission of India on Friday fined Amazon Rs 200 crore for “false and misinformation” and “suppressing material facts” of the 2019 futures deal. With this, the CCI has postponed the said deal.
The commission has also asked Amazon to re-file a detailed Form II within a period of 60 days.
The regulator issued a show-cause notice to the e-commerce company in July 2021 after Future Group had complained to the CCI.
Amazon’s deal to buy a 49 percent stake in Future Coupons was approved by the regulator back in November 2019. In a 57-page order, the regulator said the approval “will remain in abeyance”.
According to the regulator, certain violations by Amazon “arise from a deliberate design on Amazon’s part to suppress the true scope and purpose of the combination and the Commission finds no mitigating factor”.
(with PTI inputs)
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