Amazon on 25-02-2022 appealed Competition Commission’s decision to keep in abeyance the more than two-year-old approval for the e-commerce major’s deal with Future Coupons Pvt Ltd (FCPL), arguing that the regulator does not have the power to keep its own order in abeyance.
The Amazon made the submission before the National Company Law Appellate Tribunal (NCLAT), which is hearing its plea against the decision of the Competition Commission of India (CCI). Amazon is seeking an interim stay on CCI decision.
In December 2021, the watchdog said the approval for the Amazon-Future Coupons deal “shall remain in abeyance”, citing that the Amazon had suppressed information while seeking clearance for the transaction back then. Besides, the company was directed by CCI to file a fresh form regarding the deal.
“This is the first time, it is happening in India and it is a serious matter. After two years, when an approval has been granted and FDI has come in, can you now say that I am going to keep it in abeyance and directing to file a new form too, “Amazon said in its appeal.
Appeal pointed out that the regulator passed the order despite knowing the fact that Amazon is at loggerheads with the Future group in an arbitration process at Singapore International Arbitration Centre (SIAC).
CCI is not vested with the power to keep its own order in abeyance and direct Amazon to file a fresh notification when the threshold for filing Form II has not been met, especially when it is aware that the parties are now at loggerheads with each other, Subramaniam said.
