Amazon Seeks to Pause Antitrust Evaluate of 2019 Deal With Future Group

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Amazon has requested India’s Supreme Court docket to pause an expedited assessment of allegations that the US agency hid info whereas looking for antitrust clearance for a 2019 cope with India’s Future Group, authorized papers seen by Reuters confirmed.

The Competitors Fee of India (CCI) in June accused Amazon of concealing information and making false submissions when it sought approval for the $200 million (roughly Rs. 1,490 crore) funding right into a Future unit in 2019, a deal that’s now on the coronary heart of protracted authorized disputes between the 2 sides.

Amazon advised Reuters on the time that it was assured of addressing the watchdog’s issues.

The Supreme Court docket strategy by Amazon comes because the CCI on Wednesday held a closed-door listening to the place the US agency’s attorneys declined to argue and clarify their place on the matter, saying they’d requested the highest court docket to pause the method.

The watchdog famous in an inside doc – seen by Reuters – that it had determined to offer no extensions to the corporate to clarify its place and can now situation an order in the end.

Amazon and the CCI didn’t instantly reply to a request for remark.

The CCI choice is important to Amazon’s authorized challenges. If the CCI guidelines towards Amazon and revokes the 2019 approval, it may have wide-ranging ramifications on the US agency’s ongoing authorized battle with Future, individuals acquainted with the case say.

That is as a result of Amazon has thus far efficiently used the 2019 Future unit deal to argue breach of sure contracts when the Indian firm introduced plans to promote its retail belongings to rival Reliance Industries for $3.4 billion (roughly Rs. 25,330 crore) final 12 months.

Future, which denies any wrongdoing, accuses Amazon of illegally interfering in its enterprise selections and derailing a possible deal with out which it says it’s going to face liquidation.

© Thomson Reuters 2021


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