Supreme Court Sets Aside CCI Penalty and NCLAT Order Against Amazon in Future Group Case
The Supreme Court set aside the Competition Commission of India's (CCI) December 2021 order imposing a Rs 202 crore penalty on Amazon and suspended its investment deal with Future Group. It also overturned the National Company Law Appellate Tribunal's (NCLAT) June 2022 ruling that had upheld the penalty and suspension. The court directed that any amount paid by Amazon be refunded within eight weeks with interest. The case concerns Amazon's 2019 acquisition of a 49% stake in Future Coupons and allegations of nondisclosure during regulatory approval.