SC Issues Notice To CCI, Future Group On Amazon's Plea Against NCLAT Order
The bench issued a notice to the CAIT, which opposed the deal between Amazon and Future Group, in the matter
Stay updated with breaking news from Future Coupons. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The bench issued a notice to the CAIT, which opposed the deal between Amazon and Future Group, in the matter
The NCLT's insolvency order on Future Retail adds to Amazon's woes.
E-commerce major Amazon has moved Supreme Court against an order of the NCLAT, which upheld fair trade regulator CCI’s decision to suspend its approval for investment in a Future Group company.
In its petition, a copy of which has been seen by PTI, the e-commerce major has said the NCLAT order has several glaring defects and suffers from a total non-application of mind by the appellate tribunal.
The bench also dismissed Amazon's intervention application. This means that FRL can now face insolvency proceedings.