E-commerce giant Amazon has been hit by a backlash over a dispute with Future Group. The National Company Law Appellate Tribunal (NCLAT) upheld the orders of the Competition Commission of India (CCI) imposing a fine of Rs 200 crore on Amazon in the case. The popular company has been ordered to deposit Rs 200 crore penalty within 45 days.
Amazon has approached NCLAT challenging the December 17 verdict by the Competition Commission of India (CRT) that Amazon and Future Group deal was invalid. It was heard by a two-judge bench headed by Justice M Venugopal and Justice Ashok Kumar Mishra.
Meanwhile, the Competition Commission of India (CCI) terminated the Amazon Future Coupons Agreement on December 17 last year, despite allegations that Amazon opposed the Future-Reliance deal by exercising the rights in the 2019 agreement between Amazon and Future companies. Amazon said it deliberately hid some information before asking for their permissions. The CCI also terminated the deal and imposed a fine of Rs 202 crore on Amazon. Following the ruling in favor of Future Group, Amazon challenged this in the Supreme Court on January 5. However, both sides went to the NCLAT, where the Supreme Court directed that the matter be referred to the NCLAT.
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