Amazon has asked India’s Supreme Court to block a speedy review of allegations that the US firm hid information while seeking antitrust clearance for its 2019 deal with India’s Future Group, legal papers seen by Reuters showed.
Competition Commission of India (CCI) accused in June heroine For concealing facts and making false submissions when he sought approval for an investment of $200 million (approximately Rs 1,490 crore). Future entity in 2019, a deal that is now at the center of protracted legal disputes between the two parties.
Amazon told Reuters at the time that it was confident of allaying the watchdog’s concerns.
The Supreme Court’s approach by Amazon comes as the CCI held a closed-door hearing on Wednesday, where lawyers for the US firm declined to argue and clarify their position on the matter, saying they asked the top court to process the matter. Was told to stop.
The watchdog noted in an internal document – seen by Reuters – that it had decided not to give the company any detail to explain its position and would now issue an order in due course.
Amazon and CCI did not immediately respond to requests for comment.
The CCI’s decision is crucial to Amazon’s legal challenges. If the CCI rules against Amazon and revokes the 2019 approval, it could have a huge impact on the US firm’s ongoing legal battle with Future, people familiar with the matter say.
That’s because Amazon has so far successfully used the 2019 Future Unit deal to argue for breach of certain contracts, when the Indian company sold its retail assets to Reliance Industries for $3.4 billion (about Rs 25,330 crore) last year. plan was announced.
Future, which denies any wrongdoing, accuses Amazon of illegally interfering in its business decisions and derailing a potential deal, without which it says it will face liquidation.
© Thomson Reuters 2021