NCLAT has upheld an order of the CCI which imposed a ₹202 crore penalty on Amazon for failing to reveal crucial details of its acquisition of a 49 per cent stake in Future Coupons.
The hearing of Amazon's plea, initiating insolvency proceedings against debt-ridden Future Retail Ltd has been adjourned by the National Company Law Tribunal (NCLT) until June 14. A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company.