India’s Antitrust Agency Suspended Amazon’s 2019 Future Group Deal

The antitrust agency has suspended Amazon’s deal with the Future Group. The regulators claimed that the company has suppressed the information while looking for regulatory approval to make an investment in the Future Group.

Amazon has used its terms of tea hold to prevent the Indian retailer from selling its retail assets to Reliance Industries. The Competition Commission of India has said that Amazon has suppressed what the deal originally had and had made false and incorrect statements while seeking approval from the regulators. 

Shweta Dubey, a partner at an Indian Law Firm has said that this order has given CCI the power to hold the combination approval for a while. With the suspension of this approval, it has become easier for the biggest retailer in India, Reliance to acquire Future. The CCI has also imposed a penalty of almost 2 billion rupees on Amazon. It also said that the company will need to submit information for approval and to do this, it will be given a specific period of time.