Indian court orders the antitrust authority to rule in two weeks on Amazon-Future dispute within two weeks on an Amazon-Future dispute

Indian court orders the antitrust authority to rule in two weeks on Amazon-Future dispute within two ...

Indian court ruled that its antitrust body has two weeks to decide whether Amazon (AMZN.O) misled authorities while seeking approval for a 2019 deal with India's Future Group, said a group of retailers.

The Confederation of All India Traders said in a statement that its filing the case to Delhi High Court on Monday and the ruling was made on Tuesday.

The e-commerce giant successfully blocked Future's bid to sell its retail assets to rival Reliance (RELI.NS) for $3.4 billion. We accused his partner of breaching one of the existing agreements.

The Competition Commission of India (CCI) said that approval for the 2019 Amazon deal should be revoked, as the US-based firm has expressed in the comments that it is confident that such regulatory concerns would be addressed.

On Tuesday, the CAIT said the antitrust body should not delay deciding on the matter which has a negative impact on the public interest and could hit their businesses if the Future-Reliance deal fails.

It said that the CCI must decide the dispute between the two of them within two weeks, the retailer group said in its statement. "The traders shouldn't be made a scapegoat, not suffer financial losses."

The CCI and the Amazon did not respond to the request for comment.

Amazon announced a $200,000 deal in Future Coupons, a unit of Future Group, for 2019, in the heart of the companies' legal dispute. The business is rumored to be engaged by the two companies in the legal dispute.

The CCI knew how to revoke a deal, but it has been revealed on Tuesday that it would be unprecedented for a CCI to end the dispute of such a time, and would likely affect this future dispute.

The source said that if there is no transaction under the age of 2019, there's no dispute between Amazon, Future, as said, the source, who asked not to be identified because of the lack of authority to speak to the media.

In July, Reuters exclusively reported that the CCI had reviewed a complaint from Future and then accused Amazon of concealing facts while seeking approval to invest in the Future Group unit in 2019. The watchdog compared a legal disclosure made by Amazon at several forums.

At the time, Amazon assured Reuters it would address the watchdog's concerns.


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