Did Amazon Misrepresent Future Deal? Verdict In 2 Weeks, Says Court
NDTV
Delhi High Court ruled on Tuesday that CCI has two weeks to decide whether Amazon misled authorities while seeking approval for the Future Group deal
Delhi High Court ruled on Tuesday that Competition Commission of India (CCI) has two weeks to decide whether Amazon misled authorities while seeking approval for a 2019 deal with Future Group, a group of Indian retailers said.
The Confederation of All India Traders (CAIT) said in a statement it had filed the case with the Delhi High Court on Monday and the ruling was made on Tuesday.
Amazon and Future, India's second-largest retailer, have been locked in a legal battle since last year.
The e-commerce giant successfully blocked Future's bid to sell its retail assets to rival Reliance for $3.4 billion, accusing its partner of breaching some pre-existing agreements. Future, which denies any wrongdoing and fears liquidation if it fails to sell assets, has been arguing before the CCI that approval for the 2019 Amazon deal should be revoked as the US firm had made misleading representations while seeking approval.
