New Delhi, May 27 -- The Supreme Court on Wednesday set aside the two-hundred and two crores (Rs.202 crores) penalty imposed on e-commerce giant Amazon by the Commission of India's (CCI) over its 2019 investment deal with Future Coupons Pvt. Ltd.

The order was passed by a bench of Justices Vikram Nath and Sandeep Mehta.

The Court also granted relief to the e-commerce giant by directing authorities to refund any amount deposited by Amazon within eight weeks, along with 6% annual interest. It further said that if the refund is delayed beyond the prescribed period, the interest rate would increase from 6% to 9% per annum. The apex court clarified that any unpaid amount after the eight-week deadline would continue to carry 9% simple annual ...