The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon’s plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major’s deal with Future Coupons.
The NCLAT has also upheld the Rs 200 crore fine imposed on Amazon and granted the company 45 days to pay.
The fine has been imposed for non-disclosure of relevant information on combinations under the Competition Act, 2002, reports said.
Confirming the CCI’s ruling on Monday, the NCLAT said that it is in full agreement with the anti-trust watchdog that Amazon had not made a “full, fair, forthright” disclosure about its strategic interest in Future Retail Ltd – Future group’s publicly listed company which ran its flagship banner of Big Bazaar.
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