New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notice on a petition filed by e-commerce major Amazon, challenging a recent order passed by Fair Trade regulator CCI, which had imposed two years for its deal. The older approval was suspended. Future Coupons (FCPL).
The appellate tribunal has directed the Competition Commission of India (CCI) and the FCPL to file their replies within the next 10 days and Amazon to file its response.
It has directed to list the matter for next hearing on February 2.
Meanwhile, a two-member bench of principal bench comprising Justices M Venugopal and VP Singh has also directed Amazon to file a convenient compilation of the larger petition filed for the purpose of its decision.
It has also directed other parties to file a brief note of submission.
The bench said that it wants the petition to be completed before taking any decision to stay the penalty of Rs 202 crore imposed on the parties.
NCLAT is an appellate authority for orders passed by CCI.
In December, the fair trade regulator suspended its 2019 approval for Amazon’s deal to acquire 49 per cent stake in FRL’s promoter Future Coupons Pvt Ltd (FCPL), slapping Rs 202 crore on the e-commerce major Was.
Last month, the CCI suspended the Amazon-FCPL deal after the US e-commerce major suppressed information while seeking approval for the transaction at the time.
The CCI, in a 57-page order, had said the approval for the Amazon-Future coupon deal “will remain suspended”.
Amazon and Future have been locked in a bitter legal tussle after US e-commerce giant Future Group dragged Future Group to arbitration at the Singapore International Arbitration Center in October 2020, arguing that FRL had made a bid for its sale. had breached their contract by entering into the deal. Billionaire Mukesh Ambani’s assets worth Rs 24,713 crore on the basis of reduced sales to Reliance Retail.
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