Did Amazon conceal facts? Anti-trust body CCI says key facts hidden in Future deal | Editorji
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Did Amazon conceal facts? Anti-trust body CCI says key facts hidden in Future deal

Jul 22, 2021 17:15 IST | By Editorji News Desk

In a big blow to Amazon and a big boost to the Future-Reliance deal, the Anti-Trust body CCI has accused Amazon of concealing facts when it sought approval for deal with Biyani led Future retail in 2019.


What is CCI accusing Amazon of?

Reuters reports that in a letter dated June 4, the Competition Commission of India (CCI) said Amazon hid factual aspects of the transaction by not revealing its strategic interest in Future Retail when it sought approval for
the 2019 deal.


What is the next step for Amazon?

E-commerce giant Amazon acknowledged the received a letter, was committed to complying with India's laws and told Reuters it would extend its full cooperation to the CCI. The Anti-trust body has asked  Amazon why it should not take action and penalise the company for providing false information.

What does it mean for the Future-Reliance deal?

Legal experts say this could be a game changer for the Future-Reliance deal which has been blocked due to Amazon's appeals against it. The CCI could direct Amazon to re-file the approval application for it's deal with Future Retail in 2019 and has powers to even revoke the approval under exceptional circumstances.

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