CCI accuses Amazon of hiding facts in deal for Future unit
The Hindu
Watchdog issues ‘show cause’ notice on Future’s complaint
India’s antitrust regulator has accused Amazon of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the U.S. e-commerce giant seen by Reuters showed. The letter complicates Amazon’s legal battle with Future Group over the Indian firm’s move to sell retail assets to Reliance Industries — a case that is now before India’s Supreme Court. Amazon has argued that terms agreed upon in its 2019 deal to pay $192 million for a 49% stake in Future’s gift voucher unit prevent its parent, Future Group, from selling its Future Retail Ltd. business to Reliance.More Related News