Amazon.com on Saturday filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission’s of India (CCI) order for suspension of its deal with Futures Group, Reuters reported citing sources. The appeal on the matter will be heard next week.
The development comes days after the Delhi High Court had stayed the Amazon-Future arbitration which had been going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
Notably, in December last year, the CCI, India's anti-trust agency, had suspended its more than two-year-old approval for Amazon's deal with Future Coupons, a promoter of Future Retail, and imposed a Rs 202-crore penalty on the e-commerce major.
Amazon and Future Group have been embroiled in a legal tussle after the US-based tech giant alleged Future Group of violating the terms of its 2019 deal in deciding to sell retail assets to Mukesh Ambani’s Reliance Industries. However, Future Group denies any wrongdoing.
