Business & Investment

Amazon has shown contempt for Indian authorities by breaking out of CCI hearings: Future Group

Amazon has shown complete contempt for India’s statutory authorities by leaving the hearing by the Competition Commission of India last week. The hearing was called by the CCI to decide whether to cancel the 2019 transaction between Amazon and the Future Group.

“Amazon’s arrogant conduct. Little respect has been shown for the Delhi High Court, the Supreme Court, and this committee. It may have moved the Delhi High Court to extend the term or suspend orders, but probably. It seemed unnecessary to do so … When the Supreme Court’s relief could not be obtained, it sought a postponement from the CCI, and when it was denied, with a complete disdain for Indian statutes Authority, this trillion-dollar American company has come out of court. ”

Earlier this month, Future Retail’s independent director wrote to CCI to revoke the approval of the 2019 transaction between Amazon and Future Coupons because Amazon “hidden the facts” when it asked for investment approval. Did. The transaction in which Amazon invested Rs 143.1 billion in Future Coupons Private Limited is at the heart of the ongoing controversy between Amazon and Future Retail.

On November 19, CCI instructed Future Coupons to submit a written submission, and Amazon will submit a response by November 23. Future said in a submission to the stock exchange on Sunday.

Amazon has shown contempt for Indian authorities by breaking out of CCI hearings: Future Group

https://www.thehindubusinessline.com/info-tech/amazon-has-shown-contempt-for-an-indian-authority-by-walking-out-of-cci-hearing-future-group/article37735031.ece Amazon has shown contempt for Indian authorities by breaking out of CCI hearings: Future Group

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