26 November 2021, Mumbai:
The Competition Commission of India (CCI) said it will pass its order in "due course" in a dispute between Amazon and Future Coupons (FCPL) even as the US company declined to provide its written response or make oral submissions.
Amazon told CCI it had challenged in the Supreme Court a Delhi High Court order asking the CCI to expedite the eight-month long case and requested the competition watchdog to wait for the Supreme Court's verdict before proceeding with the case, according to a latest CCI notice.
Amazon had asked the CCI for deferment of a hearing scheduled for Thursday morning in an application filed by the FCPL seeking the competition watchdog to review its 2019 approval for Amazon's investment into FCPL, the promoter company that owns about 10% of Kishore Biyani-led Future Retail (FRL).
ET (The news article has not been edited by DFU Publications staff)
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.