Amazon challenges India to suspend antitrust over future deals 2019


© Reuters. FILE PHOTO: Amazon’s logo is pictured inside the company’s office in Bengaluru, India, April 20, 2018. REUTERS / Abhishek N. Chinnappa


By Aditya Kalra

NEW DELHI (Reuters) – Inc (NASDAQ:) has filed a legal challenge in an Indian court against scrutiny by the national antitrust agency over a 2019 agreement it had with Indian retailer Future Group, two sources with direct knowledge of the matter told Reuters on Sunday.

India’s antitrust authority suspended the approval of’s 2019 deal with Future Group last month, potentially hampering efforts by the US e-commerce giant to block the sale of assets. Future’s retail product to an Indian market leader.

The suspension startled Amazon because it later resulted in the halt of arbitration proceedings between the two parties in a protracted commercial dispute.

Amazon has long argued that Future violated the terms of a 2019 agreement when it decided to sell retail assets to market leader Reliance Industries, and the US company’s position has so far been arbitrated. Singapore and Indian courts in favor. Future denies any wrongdoing.

But the Competition Commission of India (CCI) last month suspended that deal, arguing that Amazon had withheld the information while seeking a justification for the deal at the time.

Two sources said Amazon had filed an appeal against the CCI’s decision in India’s National Company Law Court of Appeal on Saturday night.

One of these people said the appeal will be heard later this week.

Amazon did not immediately respond to a request for comment. CCI also did not respond.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor is it accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so prices may be inaccurate and subject to change. differs from the actual market price, which means that the price is indicative only and is not suitable for trading purposes. Therefore, Fusion Media does not accept any responsibility for any trading losses you may incur as a result of using this data.

Fusion Media or anyone associated with Fusion Media shall not bear any liability for loss or damage resulting from reliance on information including data, quotes, charts and buy/sell signals contained in this site. Please be fully informed of the risks and costs associated with trading in financial markets, which are among the riskiest forms of investment possible.

Source link


News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button