CCI does not have powers to keep own order in abeyance: Amazon tells NCLAT in Future case | Companies News

NEW DELHI: Amazon on Friday challenged the Competition Commission’s decision to keep more than two years’ approval for an e-commerce deal with Future Coupons Pvt Ltd (FCPL), arguing that the regulator was unable to keep its own orders. abeyance.

The e-commerce industry has filed a petition before the National Constituent Assembly (NCLAT), which is hearing its appeal against the decision of the Competition Commission of India (CCI). Amazon is looking for a time delay on the CCI decision.

In December last year, the watchdog said that approval for the Amazon Coupons-Future deal would “be released”, indicating that the e-commerce player had entered the information while seeking approval for the transaction. In addition, the company was directed by the CCI to compile a new form about the business.

Gopal Subramaniam’s attorney general, representing Amazon, filed before the appellate court that the court and the CCI’s jurisdiction were questionable in the appeal filed by the company.

“This is the first time, it happens in India and it is a very important issue. After two years, if you have received FDI approval, can you say now that I will keep it on hold and direct. even a new form file, ”he said.

He also pointed out that the regulator passed the order even though he was aware that Amazon was at war with the frontline in the judicial process at the Singapore International Arbitration Center (SIAC).

The CCI is unable to keep its authority afloat and directly Amazon to release new information when the dream for Form II is not met, especially when it realizes that our teams are now at war with each other, Subramaniam said.

Form II is related to the submission of the proposed compilation.

While outlining the issue for Monday, NCLAT also said it would try to start a daily hearing in the case.

Earlier this week, the Supreme Court requested speedy tracking procedures in the NCLAT in the case.

Subramaniam said the complaint filed by the FCPL before the regulator only had to violate the judicial procedures in the SIAC.

“Immediately (after the CCI order), they (the Future) filed a complaint before the Supreme Court (SIAC) which said that the Commission had said that our misconduct and the agreement itself had gone and the judicial process was still going on,” he said. late.

However, he noted that Article 16 of the Judicial Code states that the arbitration agreement is an independent treaty and is not lost even when the treaty is under null and void.

“That is the legal solution but they send the application,” he said, adding that on the basis of the CCI order, they want to complete the judicial process in SIAC according to the terms and conditions of the sentences.

Subramaniam also said that there is no violation of FDI rules by Amazon as it has invested in the FCPL, which is the IOCC (Indian Property and Control Board) by the Biyani family, which has the largest share.

Amazon and the future are locked in a bitter legal battle after the US e-commerce giant dragged the front to the court in October 2020. US e-commerce major has argued that Future Retail Ltd (FRL) violated their agreement by entering into bargain for the sale of your assets to Reliance Retail on a slump sale basis for Rs 24,713 crore.

Recently, the FRL also approached SIAC to uphold the judicial procedures on the basis of the CCI’s previous mandate. However, the SIAC has rejected the petition.

Then, the front panel near the Supreme Court of Delhi, where the division seat is on January 5, stood the procedures set for January 5-8 at the SIAC.

The order was also challenged by Amazon before the Supreme Court.

SIAC is prosecuting Amazon’s opposition to a Rs 24,713-crore front contract with Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd, announced in August 2020.

Earlier this month, the high court upheld the three Delhi high court orders, including refusing to grant a restraining order on the final injunction, which has prevented the FRL from continuing with its merger agreement with Reliance Retail.

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