SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 13 Jun, 2022  

Amazon.9.Thmb.jpg NCLAT upholds CCI ruling, directs Amazon to pay Rs 200 cr penalty

Amazon.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 13 Jun, 2022
The National Company Law Appellate Tribunal on Monday upheld the December 2021 order of the Competition Commission of India (CCI) that suspended its earlier order approving Amazon's deal with Future Coupons, a Future Group entity, and imposed a Rs 202 crore fine on the e-commerce major.

The e-commerce giant Amazon had approached the NCLAT to challenge the CCI's December 2021 decision.

In the December 17, 2021 order, the regulator had said an approval granted to Amazon to acquire a 49 per cent stake in Future Coupons would stand in abeyance, as the firm suppressed information while seeking the clearance.

The CCI's order came after complaints filed by Future Retail's independent directors and the industry body Confederation of All India Traders (CAIT).

Besides, the NCLAT also upheld the Rs 200 crore fine imposed on the e-commerce firm for non-disclosure of relevant information and granted the company 45 days to pay the same.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter