The National Company Law Appellate Tribunal (NCLAT) has upheld a fine of Rs 202 crore on US-based multinational company Amazon in the Future-Amazon case. The Competition Commission of India (CCI) has imposed this fine on Amazon.
Amazon challenged this fine in the NCLAT. The Bench of the Tribunal in its judgment today agreed with the CCI's order of suspension of the deal in Amazon Future Coupons and upheld the same. The Tribunal held that Amazon had not disclosed the full details of the agreement to the Commission.
A two-member bench of the tribunal, Justices M. Venugopal and Ashok Kumar Mishra, ordered Amazon to pay the said fine amount to Future Group within 45 days. CCI, the regulator set up for fair trade, has approved Amazon's Future Coupons Ltd. (FCPL) was suspended two years ago in December. The CCI had said in its order that American e-commerce company Amazon had hidden information while taking approval of the agreement.
The NCLAT upheld the CCI order stating that Amazon did not provide complete and transparent information about its strategic interests in Future Retail Limited. The closed retail store chain Big Bazaar was operated by Future Retail Limited (FRL), a Future Group company.
Also Read: Nirmala Sitharaman: Finance Minister's advice to PSUs, improve professionalism and reduce expenses
Corona Fourth Wave: Experts ruled out the fourth wave of corona in the country, saying - the situation can be worrisome only after getting a new variant of COVID-19
Once again an increase is being recorded in the cases of Covid-19 infection in the country. More than seven thousand new cases have been registered in the last 24 hours. However, experts believe that
Thailand and Cambodia agreed on an immediate, unconditional ceasefire; the war had been going on for 5 days.
A ceasefire has finally been declared on the conflict between Thailand and Cambodia that has been going on for the last five days. Amid international efforts to end the conflict, Thai and Cambodian
PM Modi: PM Modi started the 'Mera Bharat, Mera Parivar' campaign, and shared video on social media
Prime Minister Narendra Modi has started the Mera Bharat, Mera Parivar campaign. The Prime Minister has posted a video on social media, in which the theme song of the campaign has been released.
Bahraich Wolf Attack: Vigilance increased in wolf-affected villages, surveillance at every nook and corner; villages echoing with the sound of firecrackers
The wolf, which has already killed 10 people including nine children, was not heard attacking on Tuesday. Block Development Officer Hemant Kumar Yadav said that 11 district-level officers are visiting
IND vs ENG: Devdutt Padikkal got a chance to debut in Dharamshala and the old record of Indian cricket was broken after 24 years.
The last match of the five-match Test series between India and England (IND vs ENG 5th Test) is being played in Dharamshala. In this match, the England team won the toss and decided to bat first. The
Nature's fury from South to North India, 47 missing in Himachal, 150 people in Kedarnath not contactable
The disaster caused by cloudbursts and floods in the hilly states of Himachal Pradesh and Uttarakhand has caused huge losses. 47 people are still missing in Himachal Pradesh. The bodies of two
Manmohan Singh: 'The Prime Minister did the right thing', said Manmohan Singh while taking the government's side on the Russia-Ukraine war
Former Prime Minister of the country Manmohan Singh supported the stand of the Central Government on the Russia-Ukraine war. He said that India has done the right thing by putting its sovereign and
WI vs AFG Highlights: The Windies team registered a win by 104 runs, pushing Afghanistan to second place in the points table
The 40th match of T20 World Cup 2024 was played between West Indies and Afghanistan today. This was the last match of the group stage. Super-8 will start on June 19. Afghanistan and West Indies have
Ambedkar Statue : 125 feet tall statue of Ambedkar in Hyderabad, KCR unveiled
Ambedkar's statue in Hyderabad: Telangana Chief Minister K Chandrasekhar Rao on Friday unveiled a 125-feet tall statue of BR Ambedkar here on the birth anniversary of the Constitution maker.
Ratan Tata Successor: Who will be the successor of Padma Vibhushan Ratan Tata, who will handle the empire of 3800 crores
Veteran industrialist and honorary head of Tata Sons Padma Vibhushan Ratan Tata passed away on Wednesday night. He was 86 years old. He breathed his last at Mumbai's Breach Candy Hospital. If Ratan
