Future Coupons deal: Appellate Tribunal to hear Amazon’s plea on Thursday

8

New Delhi, Jan 12 (PTI) The National Company Law Appellate Tribunal (NCLAT) will hear the plea of ​​e-commerce giant Amazon on Thursday. The petition challenges the recent order of the Competition Commission of India (CCI).

The CCI, in its order, has suspended the more than two-year-old approval given to the deal with Future Group company Future Coupons.

Amazon’s plea will be heard by a two-member bench of Justice M Venugopal and Justice VP Singh.

Last month, the Competition Commission of Future Retail Ltd. Promoter of Future Coupons Pvt. Ltd. The approval given in 2019 to Amazon’s deal to buy a 49 percent stake in the company was suspended. Along with this, a fine of Rs 202 crore was imposed on the e-commerce company.

While suspending the deal, the CCI had said the US e-commerce company withheld information while applying for approval.

.