Amazon Asked Future Group to withdraw its Complaint in CCI
Amazon has asked the Future Group to withdraw its complaint at CCI. Amazon has also said that Kishore Biyani, the founder and CEO of the Future Group has hinted towards an out-of-court settlement of this issue. An Amazon spokesperson has said that the company is willing to have a meaningful engagement and discussion over the issue.
FRL has accused Amazon of submitting false information after which the group filed a complaint at CCI. Recently the news came out about Amazon finalizing an agreement on the acquisition of 9.9 percent direct stakes in FRL. But the acquisition was canceled after the Press-2 was released by the government of India, which forbade any foreign entity from acquiring any stakes in the retail entity in India.