Amazon on Tuesday told the National Company Law Appellate Tribunal (NCLAT) that the initial order of the Competition Commission of India (CCI) granting approval to its deal with Future Coupons in 2019 was a speaking order. The subsequent reversal of the order was surprising since all documents and agreements between the two parties had been disclosed.
Amazon is contesting the CCI’s December 17, 2021, order that kept in abeyance its earlier approval for the 2019 deal with Future Coupons. CCI had also imposed a Rs 202-crore penalty on Amazon.
A speaking order is one which also explains the rationale behind the order.
“All agreements were disclosed to the Commission. Not only this, Amazon and its lawyers carried out a competition analysis. Competition assessment for FRL was provided to the Commission. The Commission was satisfied,” senior counsel Gopal Subramanium said before the two-member NCLAT bench.
The CCI, in its 2021 order, said the business commercial agreement between Amazon and Future group had not been disclosed.
Subramanium said the Commission, while granting approval, had also said there was not any appreciable adverse effect on competition.
Due to paucity of time, the NCLAT adjourned the matter for further hearing to March 2. The NCLAT has been directed by the Supreme Court to decide on Amazon’s plea expeditiously.
