Competition Commission of India (CCI) will not be intimidated by Amazon arrogance: Future Retail (FRL)

Competition Commission of India (CCI) will not be intimidated by Amazon arrogance: Future Retail (FRL)

29 November 2021, Mumbai:

Future Retail NSE -1.29 % (FRL) on Sunday accused Amazon of trying to scuttle a hearing by the Competition Commission of India (CCI) last week.

Competition Commission to have regional presence; more streamlined  processes: CCI chief - The Financial Express

It also accused the American company of "arrogance" and showing disrespect to the Indian regulatory authority even as Amazon has asked the antitrust regulator to revoke its 2020 approval given to the ₹25,000-crore Future Group-Reliance Retail deal.

In a regulatory filing, the flagship entity of Future Group told stock exchanges that Amazon "defied" CCI's direction and refused to file its response till date, citing a petition the US e-commerce giant filed against the CCI proceedings in the Supreme Court.

Supreme Court lashes out at Centre for not appointing High Court Judges

"Amazon, at the commencement of the hearing, tried to stall the personal hearing on the plea that they had filed an SLP in the Supreme Court against the Delhi High Court order dated 16-11-2021," FRL informed BSE and NSE on Sunday.

"FRL firmly believes that the CCI will not be intimidated by this arrogance of Amazon and will take action on its SCN against Amazon in accordance with law and regulations."

ET  (The news article has not been edited by DFU Publications staff)

Future-Reliance Retail merger deal: FRL seeks early hearing of appeal in SC  against HC order | Zee Business


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