Amazon Submitting on Future Group Deal: Says CCI Marks ‘Discrepancies’


US-based e-commerce firm Amazon is likely to be active again regarding the future group deal.  The company Reliance Retail is taking some measures to complete the deal which is all about to acquire 49 percent stakes in the future group company Future Coupons Pvt Ltd (FCL). Let’s have a look at the Amazon filing regarding the matter and what are major points have been taken by Amazon.

Amazon Submitting on Future Group Deal: Says CCI Marks ‘Discrepancies’

For few weeks Amazon is suffering from a legal tussle with Future Group over the deal with Reliance Retail. Earlier we found that Future Group is going to sell its retail businesses to Reliance Retail. Currently, the supreme court hearing the matter again just after when Amazon won the award at Singapore International Arbitration Centre.

“We have sought some clarifications from Amazon over some discrepancies that we have found in their filings,” a government official told.

The filing by Amazon to acquire the stakes in Future Group is showing the interest of an e-commerce firm. No doubt the e-commerce firm wants to complete this deal as soon as possible the again filing for approval showing huge interest. Amazon also disclosed information that it received a show-cause notice from CCI due to the ongoing disputes regarding the deal.

The company’s spokesperson confirmed that the company feels confident now after the CCI concerns. However, the dispute with a future group is ongoing but the company trying to sort all the misconceptions and misleading regarding this deal. Now company suffers from some legal proceedings due to this matter.

Earlier the stock market regulator Securities and Exchange Board of India (SEBI) has already approved this future-Reliance deal. As per the information, this deal is valued at Rs 24,713 crore. Later the deal has been halted due to the protest from Amazon. The remaining details will be disclosed later when we get more information from our sources and from any other media platform.