Arguing in the National Company Law Appellate Tribunal (NCLAT), Amazon’s lawyer, Gopal Subramanian, said the antitrust agency could suspend a previously approved business proposal only if it was hurting the competitive atmosphere. “There is no such thing here,” he said, referring to Amazon’s 2019 investment in Future Coupons Pvt Ltd (FCPL).
The NCLAT will again hear the matter on Monday.
It could also have hearings every day in case the Supreme Court fast tracks the process.“It is possible and we will make an endeavour to do it (hearings) day by day,” Justice Venugopal M of the NCLAT said.
The Supreme Court on Wednesday said it would hear the case after the NCLAT decides on the US company’s petition challenging the CCI order. The CCI in December had also slapped a Rs 200 crore fine on Amazon and asked it to refile its investment proposal, while accusing the company of withholding information when it sought approval for the fund infusion into FCPL in 2019.
Amazon in the NCLAT denied that there was any suppression of facts in its application to the CCI.
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