 "Amazon")
In a significant development, the Competition Commission of India (CCI) on Friday suspended its more than two-year-old approval for Amazon's deal to acquire stake in Future Coupons Pvt Ltd and also imposed a Rs 202 crore penalty on the e-commerce major for certain contraventions.
This comes amid a bitter legal battle between Amazon and Future Group over the latter's proposed Rs 24,713 crore-deal with Reliance Retail Ventures Ltd (RRVL). Against this backdrop, Future Group had complained to the CCI.
In a 57-page order, the regulator said the approval for the Amazon-Future Coupons deal "shall remain in abeyance".
Citing certain contraventions, CCI said those
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