SC Gives Two More Weeks To CCI To Decide Complaint On Amazon-Future Deal

The Supreme Court on Monday extended by two weeks the time granted to the Competition Commission of India (CCI) by the Delhi High Court to take a decision with respect to show cause notice issued by it to e-commerce firm Amazon over the deal with Future group.

A Bench comprising Chief Justice of India NV Ramana, Justice Surya Kant and Justice Hima Kohli has granted the two weeks extension to enable Amazon to make submissions and argue its case before the CCI.

“We are not going into details, we'll grant two more week's time. You use the time and appear and argue before the Commission. You raise all your objections,” said the Bench, according to law platform Live Law. “Two weeks time granted more than High Court. Parties at liberty to raise all objection before the Commission. With above observation SLP disposed of.”

The Bench has given the direction in Amazon's special leave petition against Delhi High Court's order of November 16 directing the CCI to take a decision with respect to show cause notice issued by it to Amazon in 10 days, according to Live Law.

In August 2019, Amazon acquired a 49 per cent stake in Future Coupons, the promoter entity of Future Retail, for about Rs 1,500 crore. Amazon is now fighting a legal battle with FRL (Future Retail) to stop the Kishore Biyani-led retailer’s $3.4 billion deal with Reliance Industries Limited (RIL).

The CCI had issued a show-cause notice to Amazon on the issue of revocation of approval given to it for investment transaction with Future Coupons Pvt Ltd (FCPL). The Delhi High Court through its impugned order had directed CCI to take a decision with respect to the Show Cause Notice dated 4th June 2021 within a period of 10 days in accordance with law and the facts and circumstances of the case.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor