SC relief for Amazon in CCI fine on Future deal
Bengaluru, May 28 -- The Supreme Court on Wednesday set aside orders of the Competition Commission of India (CCI) and the National Company Law Appellate Tribunal (NCLAT) that had imposed and upheld a Rs.202 crore penalty on Amazon in the long-running Future Coupons deal dispute.
A bench of Justices Vikram Nath and Sandeep Mehta directed the authorities to refund any amount recovered or deposited by Amazon within next eight weeks, along with 6% simple interest from the date of deposit.
The case relates to Amazon's Rs.1,500 crore investment in Future Coupons (FCPL) in 2019, through which it acquired a 49% stake in the promoter entity of Future Retail. The transaction gave Amazon certain rights linked to Future Retail's business decisions and ...
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