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Amazon challenges India’s antitrust suspension of 2019 Future deal-sources -Breaking

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© Reuters. FILEPHOTO: Amazon’s logo was pictured in Bengaluru (India), April 20, 2018, by Abhishek N. Chinnappa. REUTERS/AbhishekN. Chinnappa

By Aditya Kalra

NEW DELHI (Reuters: Amazon.com Inc. (NASDAQ.) is challenging an Indian tribunal’s decision to revoke a deal with Future Group that was made by India’s national antitrust regulator in 2019. This, according to two people with direct knowledge of the matter.

India’s antitrust office suspended last month its approval of Amazon.com’s 2019 deal to Future Group. This may have dented the U.S. attempts to prevent Future’s retail assets from being sold to India’s market leader.

Amazon was jolted by the suspension, which led to an end of arbitration between the parties in their long-running commercial dispute.

Amazon has long claimed that Future broke the 2019 agreement when it decided to sell its retail assets to Reliance Industries. The position of the U.S. firm had been supported by Indian courts and the Singapore arbitrator. Future claims that there was no wrongdoing.

The Competition Commission of India (CCI), however, suspended the agreement last month. It said that Amazon had suppressed certain information in order to obtain clearances for the transaction back then.

The two sources claimed that Amazon had filed an appeal against CCI’s decision to India’s National Company Law Appellate Tribunal (NCLAT) late Saturday night.

According to one person, the appeal will be heard in the latter part of this week.

Amazon didn’t immediately reply to my request for comment. CCI did not reply.

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