Amazon wants to stop antitrust review of 2019 deal with India

Amazon wants to stop antitrust review of 2019 deal with India

Amazon.com Inc has asked India’s Supreme Court to stop a speedy review of allegations that the US firm hid information while seeking antitrust clearance for a 2019 deal with India’s Future Group, legal papers seen by Reuters were shown.

The Competition Commission of India (CCI) in June accused Amazon of suppressing facts and making false submissions when it sought approval for a $200 million investment in Future Unit in 2019, a deal that has now been at the center of protracted legal disputes between the two. is in. Party.


Amazon told Reuters at the time that it was confident of allaying the watchdog’s concerns.

The Supreme Court’s approach by Amazon comes as the CCI held a closed-door hearing on Wednesday, where lawyers for the US firm declined to argue and clarify their position on the matter, saying they asked the top court to process the matter. Was told to stop.

The watchdog noted in an internal document – seen by Reuters – that it had decided not to give the company any detail to explain its position and would now issue an order in due course.

Amazon and CCI did not immediately respond to requests for comment.

The CCI’s decision is crucial to Amazon’s legal challenges. If the CCI rules against Amazon and revokes the 2019 approval, it could have a huge impact on the US firm’s ongoing legal battle with Future, people familiar with the matter say.

That’s because Amazon has so far successfully used the 2019 Future Unit deal to argue a breach of contract, when the Indian company last year announced plans to sell its retail assets to Reliance Industries for $3.4 billion. .

Future, which denies any wrongdoing, accuses Amazon of illegally interfering in its business decisions and derailing a potential deal, without which it says it will face liquidation.

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

mail Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and sharp comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard,

digital editor

,

—-*Disclaimer*—–

this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by Rojgar samachar team members.

Leave a Reply