Rs 202 Crore Penalty Imposed On Amazon, Deal With Future Retail Suspended
NDTV
The Competition Commission of India suspended its approval for Amazon's deal with Future Coupons and also imposed a penalty totalling Rs 202 crore on the e-commerce giant
The Competition Commission of India (CCI) on Friday suspended its approval for Amazon's deal with Future Coupons and also imposed a penalty totalling Rs 202 crore on the e-commerce major for certain contraventions.
The approval was given by the regulator back in November 2019 for Amazon's deal to buy 49 per cent stake in Future Coupons. In a 57-page order, the regulator said that approval "shall remain in abeyance".
According to the regulator, certain contraventions by Amazon arise from a "deliberate design on the part of Amazon to suppress the actual scope and purpose of the combination and the Commission finds no mitigating factor".
