The Competition Commission of India (CCI) on Friday suspended its approval for Amazon's deal with Future Coupons. It also imposed a penalty totalling Rs 202 crore on the e-commerce major for certain contraventions.
The approval was given by the regulator back in November 2019 for Amazon's deal to buy 49 per cent stake in Future Coupons.
In a 57-page order, the regulator said that approval ''shall remain in abeyance''.
According to the regulator, certain contraventions by Amazon arise from a ''deliberate design on the part of Amazon to suppress the actual scope and purpose of the combination and the Commission finds no mitigating factor''.
Amid a bitter legal battle with Amazon, Future Group had complained to the CCI following which the regulator issued a show cause notice to the e-commerce major in July 2021.
(With inputs from PTI)
