Chennai
The Competition Commission of India (CCI) on Friday suspended its approval for Amazon's deal with Future Coupons and also imposed a penalty totalling Rs 202 crore on the e-commerce major for certain contraventions.
The approval was given by the regulator back in November 2019 for Amazon's deal to buy 49 per cent stake in Future Coupons. In a 57-page order, the regulator said that approval "shall remain in abeyance".
According to the regulator, certain contraventions by Amazon arise from a "deliberate design on the part of Amazon to suppress the actual scope and purpose of the combination and the Commission finds no mitigating factor".
Amid a bitter legal battle with Amazon, Future Group had complained to the CCI following which the regulator issued a show-cause notice to the e-commerce major in July 2021.
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