THE COMPETITION Commission of India has served Amazon a show-cause notice over “discrepancies” in filings made by the company while seeking approval for its acquisition of a 49 per cent stake in Future group company, Future Coupons Pvt Ltd (FCL). Amazon is currently in a legal tussle with Future group over the latter’s plans to sell its retail businesses to Reliance Retail. Sources aware of the developments said the show-cause notice contends that Amazon might have concealed a strategic interest in Future group when it submitted its filings for approval. An Amazon spokesperson confirmed that the company had received a show-cause notice from the CCI “as part of an ongoing dispute”. The decision to sell retail assets to Reliance Retail came amid pressure from creditors that the company pare debt.

Source: Indian Express July 22, 2021 21:22 UTC