The Competition Commission of India (CCI) said it will pass its order in “due course” in a dispute between Amazon and Future Coupons (FCPL) even as the US company declined to provide its written response or make oral submissions.
Amazon told CCI it had challenged in the Supreme Court a Delhi High Court order asking the CCI to expedite the eight-month-long case and requested the competition watchdog to wait for the Supreme Court’s verdict before proceeding with the case, according to the latest CCI notice.
Amazon had asked the CCI for deferment of a hearing scheduled for Thursday morning in an application filed by the FCPL seeking the competition watchdog to review its 2019 approval for Amazon’s investment into FCPL, the promoter company that owns about 10% of Kishore Biyani-led Future Retail (FRL).
However, the CCI said it will move forward in the case based on the information available with it and as per law.
“It is pertinent to note that vide the said directions, the commission made it clear that no request for extension or modification of timelines and the hearing schedule shall be entertained,” the CCI notice reviewed by ET said.
“In the event of any party not availing the opportunity provided, the commission would proceed to consider the matter on the basis of material available on record and in accordance with the law.”
Both Amazon and FCPL did not respond to ET’s request for comment.
The CCI was earlier supposed to hear the matter from both the parties in January, it had to rush through with the case after the Delhi High Court on November 16 directed the agency to dispose of the case in two weeks. In March, FCPL, in an application to the CCI, had charged Amazon of concealing facts and flouting India’s foreign direct investment and foreign exchange laws while seeking the watchdog’s approval in 2019 for Amazon’s investment into FCPL.
