Amazon-Future Tussle: CCI says it will pass an order in due course

The Competition Commission of India said it would pass its order in a dispute between Amazon and Future Coupons (FCPL) in an “reasonable time”, even though the US company declined to give its written response or make oral submissions.

Amazon told the CCI that it had challenged the Delhi High Court order in the Supreme Court asking the CCI to expedite the eight-month-long case and requested the competition watchdog to refrain from proceeding with the matter. First wait for the Supreme Court’s decision, as per a latest notice from CCI. ,

Amazon had asked the CCI to adjourn the hearing scheduled for Thursday morning in an application filed by the FCPL, which sought the competition watchdog to review the 2019 approval for Amazon’s investment in the FCPL, which Kishore Biyani-led Future owns about 10%. Retail (FRL).

The CCI, however, said that it would proceed in the matter as per the information available with it and the law.

“It is pertinent to note that under the said directions, the Commission clarified that any request for extension or modification of the timelines and hearing schedule will not be entertained,” the CCI notice, reviewed by ET, said.

“In the event of neither party taking advantage of the opportunity provided, the Commission shall proceed to consider the matter in accordance with the material available on record and the law.”

Both Amazon and FCPL did not respond to ET’s request for comment.

The CCI, which was earlier to hear the case from both the sides in January, had to hustle after the Delhi High Court on November 16 directed the agency to dispose of the matter in two weeks. In March, the FCPL, in an application to the CCI, accused Amazon of concealing facts and violating India’s foreign direct investment and foreign exchange laws, while seeking the watchdog’s approval for Amazon’s investment in FCPL in 2019. Was.

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