New Delhi: The National Company Law of Appellate Tribunal (NCLlat) on Thursday issued a notification of the petition submitted by e-commerce Major Amazon, challenging the recent command that was passed by the CCI fair trade regulator which was suspended for the approval for two years.
Agreement with Future Coupons Pvt Ltd (FCPL).
The Appellate Tribunal has directed the Indian competition commission (CCI) and FCPL to submit their reply in the next 10 days and Amazon to propose back into it.
This has been directed to make a list of problems on February 2, for the next hearing.
Meanwhile, two members consisting of Justice M Venugopal and V P Singh from the main bench have also directed Amazon to file a comfortable compilation of the main petitions that have been submitted for their aim of the adjudication.
It also directs other parties to file a short submission record.
The bench said he wanted to be invocented before making a decision to remain a 202-crore RS penalty applied to the parties.
NCLAT is an appeal authority for orders passed by CCI.
In December, a fair trade regulator has suspended approval of 2019 for the Amazon agreement to obtain 49 percent of the Future Coupon Pvt Ltd (FCPL), FRL promoter, while slapping the Hospital 202 Crore penalty on major e-commerce.
Last month, CCI had suspended the Amazon-FCPL agreement which said that the major e-commerce was pressing information while looking for permits for the current transaction.
In the order of 57 pages, CCI said the agreement for the agreement of the Amazon-Future Coupon “will remain in Abeyance”.
Amazon and the future has been locked in bitter lawguar after the US e-commerce giant dragging the future group to the Arbitration at the Singapore International Arbitration Center (SIAC) in October 2020, arguing that FRL has violated their contracts by entering into the asset sales agreement to Billionaire Mukesh Reliance Ritria Retail with the basis of the sale of deterioration for RS 24,713 Crore.
Recently, retail of the future has also approached SIAC to continue to process arbitration based on orders passed by CCI.
However, Siac has refused the request.
Following it, the future group has approached the Delhi High Court, where the division bench on January 5, continues to process scheduled on January 5-8 in SIAC.
The order was also challenged by Amazon in front of the Supreme Court.
SIAC tried Amazon’s objection to the Agreement of RS 24.713-Crore Future Group with Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd., was announced in August 2020, for sale retail and wholesale businesses, and logistics businesses and warehousing.
NCLAT Problem Notification for CCI, Coupons in the Future
