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Supreme Court reserves verdict on Amazon s pleas against Future Retail-Reliance deal
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[Amazon v Future] Supreme Court reserves judgment in appeal against Delhi High Court stay order
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SC reserves judgment on Amazon petition - The Hindu BusinessLine
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SC reserves verdict on Amazon s pleas against FRL-Reliance deal
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11 hours ago
In 2019, Amazon acquired a 49 percent stake in a promoter company called Future Coupons, and India’s competition regulator had approved the deal.
The Competition Commission of India (CCI) in a letter dated June 4 accused Amazon of concealing facts and making false submissions in 2019 when it sought approval for an investment in Future Coupons, Reuters reported on Wednesday.
This news comes two days after the Supreme Court began hearing arguments on the legal battle between Future Retail and Amazon. Amazon’s main argument in the case is that its 2019 deal to buy a 49% stake in Future Coupons has provisions that prevent Future Group from selling its Future Retail business to Reliance.