Supreme Court to hear Amazon's appeal against NCLAT order on October 11

CCI had suspended the 2019 investment deal between Amazon and Future group firm (Future Coupons) and NCLAT had upheld CCI's decision

The Supreme Court of India (SC) will hear Amazon's appeal against the National Company Law Appellate Tribunal (NCLAT) order upholding CCI's order, on October 11. As reported by BusinessLine (BL), CCI had suspended the 2019 investment deal between Amazon and Future group firm (Future Coupons).

The SC bench of Dinesh Maheshwari and Bela M Trivedi took note of admissions by all the parties and the matter will be heard on October 11, BL reported. 

Apart from upholding the CCI's order, NCLAT on June 13 had ordered Amazon to pay Rs 200 crore within 45 days. The period is reportedly over and the e-commerce giant has not deposited the fine. 

SC bench comprising Dinesh Maheshwari and MM Suresh on September 5 had heard Amazon's appeal and had asked CCI and other parties to file submissions. The matter was heard on September 19. 

Industry experts have stated that the winner of the trial will gain major control of the organised Indian retail market. 

In December 2021, CCI suspended the Amazon-Future deal after finding out that the e-commerce company had not made full disclosure of its interest in the deal with Future Coupons. 

A fine of Rs 200 crore was imposed for non-disclosure of the intentions and interest. In 2019, Amazon made a bid to get a 7.3 per cent stake in Future Retails by investing Rs 1,400 crore in Future Coupons. Amazon had earned a 49 per cent stake in the company.