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The National Company Law Appellate Tribunal (NCLAT) on Monday turned down Amazon.com’s plea that challenged antitrust body Competition Commission of India’s (CCI’s) order striking down its 2019 deal with the Future group. It was for suppressing information while seeking regulatory approval.
The deal involves a Rs 1,431-crore investment by the US major to purchase a 49 per cent stake in Kishore Biyani-led Future Coupons Pvt Ltd (FCPL) in 2019.
The tribunal has upheld views of the CCI that Amazon had misled the antitrust regulator to believe — through false statements and material omissions — that the combination and its purpose
