The National Company Law Appellate Tribunal (NCLAT) will hear e-commerce major Amazon's interim plea on February 14, seeking a stay over the order passed by fair trade regulator CCI that had suspended the over two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL).
On Monday, February 7, a three-member bench directed to list Amazon's plea on February 14 to pass an interim order and stay the operations of the order passed by the Competition Commission of India (CCI) in December last year till it finally decides the matter. "The registry is directed to list on February 14 for hearing," said the NCLAT bench. The appellate tribunal also directed to list the appeals filed by the Confederation of All India Traders (CAIT) and All India Consumer Product Distributors Federation on the same date. During the proceedings, Gopal Subramaniam representing Amazon requested to stay the order passed by the CCI until it hears the appeal. According to him, 60 days window period granted by the CCI for complying with its order is coming to an end.
In December, the CCI had suspended the Amazon-FCPL deal saying that the US e-commerce major had suppressed information while seeking clearances for the transaction back then. In a 57-page order, the CCI had said that the key reason for revoking the deal was misrepresentation and suppression of details on the deal and its purpose by Amazon, and that the approval for the Amazon-Future Coupons deal "shall remain in abeyance".
Source: Outlook
