Future Retail’s Urged CCI For Final Judgement on Amazon Future Coupons Deal

The independent directors of Future Retail Ltd have petitioned the Competition Commission to annul Amazon's transaction with Future Coupons, which was approved two years ago. They allege that the e-commerce titan misled them to obtain regulatory approval. In November 2019, CCI approved Amazon's acquisition of a 49 percent stake in FCPL, and FCPL is a shareholder in Future Retail Ltd.

Future Retail Limited (FRL) directors have written to the Competition Commission (CCI) demanding that it prevent Amazon from "persisting in its extremely unfavorable schemes" to bankrupt FRL and jeopardize a 30,000 crore debt owed to the Future group by public sector banks. The seven-page letter was addressed to CCI Chairman Ashok Kumar Gupta.