The National Company Law Appellate Tribunal (NCLAT), on Monday, upheld the December 2021 order of the Competition Commission of India (CCI) that suspended its earlier order approving Amazon s deal with Future Coupons, and had imposed a Rs202 crore fine on the e-commerce company for non-disclosure of relevant information. Amazon is asked to pay the fine within 45 days.
After many twists and turns, including prolonged legal battles up to the Supreme Court and international arbitration proceedings, Reliance Industries Ltd (RIL) has called off the deal with Future Retail Ltd (FRL) after FRL’s secured creditors voted against the scheme.