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CAIT requests CCI to revoke Amazon-FCPL 2019 deal

CAIT referred to Amazon's move as a "acquisition of strategic rights in Future Retail" disguised as an investment in Future Coupons Private Limited, citing a letter from Future Retail Limited's independent directors to highlight "yet another case of cheating and violation of the Competition Act and its Regulations by Amazon."

The move comes shortly after the independent directors of Future Retail (FRL) wrote to the anti-trust watchdog. It had stated that Amazon received CCI's approval for the deal in exchange for investment in FCPL, rather than acquiring strategic, material, and special rights over FRL similar to FRL's shareholders. Recently, Future Retail's independent directors asked CCI to cancel the deal because Amazon "hid facts and made misrepresentations to the CCI in order to obtain approval for its investment in Future Coupons."

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