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Amazon pulls CCI to NCLAT challenging suspension of 2019 Future deal

The US e-commerce giant's legal team is expected to make the argument that there was no misrepresentation of facts and all the information had been clearly mentioned.

Amazon has argued that terms agreed upon in its 2019 deal to pay US$192 million for a 49per cent stake in Future's gift voucher unit prevent its parent, Future Group, from selling its Future Retail Ltd business to Reliance. (Photo: Reuters)
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A query sent to Amazon related to this development remained unanswered till the time of going to press.

Peerzada Abrar Bengaluru
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India’s (CCI) suspension of the US e-commerce giant’s 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources.

Parallelly, Amazon’s Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail’s (FRL) asset sale to Reliance Industries (RIL).

Last year in December, the CCI  suspended Amazon’s 2019 deal worth Rs 1500 crore with