New Delhi: Competition Commission of India (CCI) on Friday suspended the Amazon agreement in 2019 with the Future Group after a review of the allegations that US e-commerce giant has been conceal information while seeking regulatory approval.
Step unprecedented taken by the CCI can have far-reaching consequences on Amazon legal battle with the future of the estranged partners.
US companies have for months successfully use the requirement to invest $ 200 million in 2019 to deter future attempts to sell the retail assets to rely on the industry of $ 3.4 billion.
In a 57 page order, CCI said it was considering “the need to examine the combination of (a deal) again,” added his approval of 2019 should be “will remain in abeyance” until then.
Amazon has been “pressed actual scope” of the deal and has made “false statements and false” when seeking approval, orders CCI added.