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regular-article-logo Tuesday, 24 December 2024

Amazon questions CCI move

The e-commerce major argued that the regulator did not have the power to keep its own order in abeyance

PTI New Delhi Published 26.02.22, 03:49 AM
Representational image.

Representational image. File photo

Amazon on Friday questioned the Competition Commission’s decision to keep in abeyance the two-year-old approval for the e-commerce major’s deal with Future Coupons.

The e-commerce major argued that the regulator did not have the power to keep its own order in abeyance.

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Amazon made the submission before the National Company Law Appellate Tribunal (NCLAT), which is hearing its plea against the decision of the Competition Commission of India (CCI). It wants an interim stay on the CCI decision.

In December last year, the watchdog said the approval for the Amazon-Future Coupons deal “shall remain in abeyance”, as the e-commerce player had suppressed information while seeking clearance for the transaction.

The CCI had asked Amazon to file a fresh form regarding the deal.

Senior counsel Gopal Subramaniam, representing Amazon, submitted before the appellate tribunal that the jurisdiction and statutory authority of the CCI were in question in the appeal filed by Amazon.

“This is the first time it is happening in India and it is a serious matter. After two years, when an approval has been granted and FDI has come in, can you now say that I am going to keep it in abeyance and directing to file a new form too,” he said.

He also pointed out that the regulator passed the order despite knowing that Amazon is at loggerheads with the Future group in an arbitration process at Singapore International Arbitration Centre (SIAC).

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