Regulations and disclosures

No room for arbitrary distinction between foreign & domestic retailers

In a setback to Amazon, the National Company Law Appellate Tribunal (NCLAT) rejected its appeal challenging the Competition Commission of India’s (CCI’s) order related to a 2019 deal worth Rs 1,431 crore with the Future Group. The tribunal on Monday also upheld the penalty of Rs 200 crore. Amazon is expected to move the Supreme Court against the NCLAT order. Although it remains to be seen how the issue is eventually settled, the case is yet another example of India’s complex regulatory environment, which often affects business. This story started with Amazon’s purchase of a 49 per cent stake in