<p>The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL).</p>.<p>The appellate tribunal has directed the Competition Commission of India (CCI) and FCPL to file their reply in next 10 days and Amazon to file a rejoinder over it.</p>.<p>It has directed to list the matter on February 2, for next hearing.</p>.<p>Meanwhile, a two-member bench comprising Justice M Venugopal and V P Singh of the Principal bench has also directed Amazon to file a convenient compilation of the voluminous petition it has filed for the purpose of their adjudication.</p>.<p>It has also directed the other parties to file a brief note of submissions.</p>.<p>The bench said it wanted the pleading to be complete before taking any decision to stay the Rs 202-crore penalty imposed on the parties.</p>.<p>NCLAT is an appellate authority for the orders passed by the CCI.</p>.<p>In December, the fair trade regulator had suspended the 2019 approval for Amazon's deal to acquire a 49-per cent stake in Future Coupons Pvt Ltd (FCPL), FRL's promoter, while slapping a penalty of Rs 202 crore on the e-commerce major.</p>.<p>Last month, the CCI had suspended the Amazon-FCPL deal saying that the US e-commerce major had suppressed information while seeking clearances for the transaction back then.</p>.<p>In a 57-page order, CCI had said the approval for the Amazon-Future Coupons deal "shall remain in abeyance".</p>.<p>Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020, arguing that FRL had violated their contract by entering into a deal for the sale of its assets to billionaire Mukesh Ambani's Reliance Retail on a slump sale basis for Rs 24,713 crore.</p>.<p>Recently, Future Retail had also approached SIAC to stay the arbitration proceedings on the basis of the order passed by CCI.</p>.<p>However, SIAC had rejected the plea.</p>.<p>Following it, Future group had approached the Delhi High Court, where a division bench on January 5, stayed proceedings scheduled on January 5-8 at SIAC.</p>.<p>The said order has also been challenged by Amazon before the Supreme Court.</p>.<p>SIAC is adjudicating Amazon's objections against Future Group's Rs 24,713-crore deal with Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd, announced in August 2020, for sale of the retail and wholesale business, and the logistics and warehousing business.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>
<p>The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL).</p>.<p>The appellate tribunal has directed the Competition Commission of India (CCI) and FCPL to file their reply in next 10 days and Amazon to file a rejoinder over it.</p>.<p>It has directed to list the matter on February 2, for next hearing.</p>.<p>Meanwhile, a two-member bench comprising Justice M Venugopal and V P Singh of the Principal bench has also directed Amazon to file a convenient compilation of the voluminous petition it has filed for the purpose of their adjudication.</p>.<p>It has also directed the other parties to file a brief note of submissions.</p>.<p>The bench said it wanted the pleading to be complete before taking any decision to stay the Rs 202-crore penalty imposed on the parties.</p>.<p>NCLAT is an appellate authority for the orders passed by the CCI.</p>.<p>In December, the fair trade regulator had suspended the 2019 approval for Amazon's deal to acquire a 49-per cent stake in Future Coupons Pvt Ltd (FCPL), FRL's promoter, while slapping a penalty of Rs 202 crore on the e-commerce major.</p>.<p>Last month, the CCI had suspended the Amazon-FCPL deal saying that the US e-commerce major had suppressed information while seeking clearances for the transaction back then.</p>.<p>In a 57-page order, CCI had said the approval for the Amazon-Future Coupons deal "shall remain in abeyance".</p>.<p>Amazon and Future have been locked in a bitter legal tussle after the US e-commerce giant dragged Future Group to arbitration at the Singapore International Arbitration Centre (SIAC) in October 2020, arguing that FRL had violated their contract by entering into a deal for the sale of its assets to billionaire Mukesh Ambani's Reliance Retail on a slump sale basis for Rs 24,713 crore.</p>.<p>Recently, Future Retail had also approached SIAC to stay the arbitration proceedings on the basis of the order passed by CCI.</p>.<p>However, SIAC had rejected the plea.</p>.<p>Following it, Future group had approached the Delhi High Court, where a division bench on January 5, stayed proceedings scheduled on January 5-8 at SIAC.</p>.<p>The said order has also been challenged by Amazon before the Supreme Court.</p>.<p>SIAC is adjudicating Amazon's objections against Future Group's Rs 24,713-crore deal with Reliance Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd, announced in August 2020, for sale of the retail and wholesale business, and the logistics and warehousing business.</p>.<p><em><strong>Check out the latest DH videos here:</strong></em></p>