new Delhi: Amazon on Friday questioned the validity of a December 1 order of the Competition Commission of India (CCI) that put the US ecommerce firm’s 2019 investment in a Future Group company in limbo.
Arguing in the National Company Law Appellate Tribunal (NCLAT), Amazon’s lawyer, Gopal Subramaniam, said that the antitrust agency can suspend an already approved business offer only if it is harming the competitive environment. Referring to Amazon’s 2019 investment in Future Coupons Pvt Ltd (FCPL), he said, “There is no such thing here.”
The NCLAT will hear the matter again on Monday.
Justice Venugopal M of the NCLAT said, “It is possible and we will try to do it (hearing) on a day-to-day basis.”
The Supreme Court on Wednesday said it will hear the matter after the NCLAT’s decision on a US company’s plea challenging the CCI order. CCI had also imposed a fine of Rs 200 crore on Amazon in December and asked it to refinance its investment proposal, accusing the company of withholding information when it sought approval to infuse funds into FCPL in 2019.