Amazon hid info in 2019, says CCI

NEW DELHI: The Competition Commission of India (CCI) has slapped Amazon with a show-cause notice, accusing the US retailer of misrepresenting and concealing information in 2019, when it sought the antitrust watchdog’s nod to buy a 49% stake in Future Group entity Future Coupons (FCPL).

The CCI in a four-page letter dated June 4, which TOI has reviewed, said “Amazon has concealed its strategic interest over FRL (Future Retail)” during its submission for the approval of the 2019 deal. The development gives a fresh twist to the long-drawn legal battle between Amazon and Kishore Biyani’s Future Group over the latter’s proposed sale of FRL — in which FCPL holds a 9.8% stake — along with its retail, warehousing and logistics assets to Reliance Industries (RIL) for Rs 24,700 crore.