The Supreme Court has issued notice on a petition filed by e-commerce giant Amazon, challenging the order passed by the Competition Commission of India (CCI), setting aside its approval for the 2019 deal between the NV investment Holdings LLC (Amazon) and the Future Coupons Pvt Ltd (FCPL).
The Bench comprising Justice Dinesh Maheshwari and Justice M.M. Sundresh on Tuesday issued notice to all parties in the case and fixed September 19 as the next date of hearing.
The e-commerce giant had approached the Supreme Court, following the National Company Law Appellate Tribunal (NCLAT) upholding the CCI’s decision to keep its approval for Amazon’s deal with the Future group in abeyance.
On June 13, 2022, the NCLAT had further upheld the CCI’s direction to Amazon to pay Rs 200 crore as penalty under Section 43A of the Competition Act, 2002.
The Tribunal gave the American e-commerce giant 45 days to comply with the CCI order and deposit the penalty.
CCI had ruled in December, 2021 that Amazon had failed to make pertinent and critical disclosures regarding its 2019 investment deal with FCPL.
The anti-trust body said in its order that Amazon had strategic interest in Future group’s retail business, run under its flagship banner of Big Bazaar by public listed company Future Retail Ltd (FRL).
CCI added that Amazon’s intent to invest in FCPL was not disclosed before it.