Did Amazon Misrepresent Future Deal

The Delhi Supreme Court has asked India’s Competition Commission to call Amazon’s future and business.

According to a group of Indian retailers, the Delhi Supreme Court did not misunderstand the authorities on Tuesday, while the Indian Competition Commission (CCI) sought approval for a 2019 deal with Future Group. It was decided that the decision would take two weeks.

The Federation of All Indian Merchants (CAIT) said in a statement that it filed a lawsuit with the Delhi Supreme Court on Monday and was found guilty on Tuesday.

India’s second-largest retailer, Amazon and Future, has been embroiled in a lawsuit since last year.

The e-commerce giant accused its partners of breaching existing contracts and successfully blocked Future’s bid to sell assets at a competitive price of $3.4 billion.

Future, which denies fraud and fears liquidation if asset sales fail, had to withdraw its approval of the 2019 Amazon transaction for making misleading statements while the US company sought approval. I insist on CCI.

Amazon says it is confident of addressing such regulatory issues. On Tuesday CAIT said that the CPI should not delay a decision on this issue. This affects the public interest and could harm your business if future fiduciary transactions fail.

The two-judge jury said CCI should settle the dispute between Amazon and Future within two weeks, and a group of retailers said in a statement, “Retailers have become the scapegoats or you must not suffer financial losses.”

CCI and Amazon did not respond to requests for comment.

At the center of the legal dispute between the two companies is an agreement by Amazon to invest $200 million in 2019 in Future Coupons, a division of the Future Group.

A person familiar with the case said Tuesday it was unprecedented for CCI to completely cancel a transaction, even if misrepresented, but any decision could affect the ongoing dispute. There is.

“Without the (2019) deal there would be no dispute between Amazon and Future,” said a source, who asked not to be identified as he was not allowed to speak to the media. ..

Reuters reported in July after Watchdog compared Amazon’s legal disclosures on various forums while CCI reviewed Future’s complaint and sought approval to invest in Future Group in 2019.

At the time, Amazon told Reuters it believed it could address Watchdog’s concerns.