New Delhi Amazon.com Inc. has filed a legal challenge in an Indian tribunal against the national antitrust agency’s suspension of its 2019 deal with Indian retailer Future Group, two sources with direct knowledge told Reuters on Sunday.
India’s antitrust agency suspends approval of Amazon.com The 2019 deal with Future Group last month potentially affects the US e-commerce giant’s efforts to halt the sale of Future’s retail assets to the Indian market leader.
The suspension has dealt a blow to Amazon as arbitration proceedings between the two parties in a long-running commercial dispute later stalled.
Amazon has long argued that Future violated the terms of the 2019 deal in deciding to sell retail assets to market leader Reliance Industries, and the US company’s position has so far been supported by a Singapore arbitrator and Indian courts. Was. Future denies any wrongdoing.
But the Competition Commission of India (CCI) suspended that deal last month, saying Amazon had suppressed information while seeking approval for the deal at the time.
Amazon filed an appeal against the CCI’s decision in the National Company Law Appellate Tribunal of India late on Saturday night.
A person said the appeal would be heard later this week.
Amazon did not immediately respond to a request for comment. CCI also did not give any answer
This story has been published without modification in text from a wire agency feed.
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