{"id":61072,"date":"2021-11-15T12:48:05","date_gmt":"2021-11-15T07:18:05","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=61072"},"modified":"2021-11-15T12:48:05","modified_gmt":"2021-11-15T07:18:05","slug":"indias-future-retail-discloses-new-documents-to-bolster-case-against-amazon-deal","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/indias-future-retail-discloses-new-documents-to-bolster-case-against-amazon-deal","title":{"rendered":"India\u2019s Future Retail Discloses New Documents To Bolster Case Against Amazon Deal"},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"61074\" data-permalink=\"https:\/\/www.legalindia.com\/news\/indias-future-retail-discloses-new-documents-to-bolster-case-against-amazon-deal\/case-against-amazon-deal\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?fit=300%2C168&amp;ssl=1\" data-orig-size=\"300,168\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Case Against Amazon Deal\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?fit=300%2C168&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?fit=300%2C168&amp;ssl=1\" class=\"alignleft size-full wp-image-61074\" src=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?resize=300%2C168&#038;ssl=1\" alt=\"\" width=\"300\" height=\"168\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?w=300&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2021\/11\/Case-Against-Amazon-Deal.jpg?resize=150%2C84&amp;ssl=1 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Independent directors at\u00a0India\u2019s\u00a0Future\u00a0Retail have disclosed\u00a0new\u00a0documents\u00a0in a letter to the country\u2019s antitrust watchdog aiming to\u00a0bolster\u00a0their\u00a0case\u00a0against\u00a0Amazon.com Inc as they seek to revoke a 2019\u00a0deal\u00a0between the two companies.<\/p>\n<p>A 160-page stock exchange filing on Sunday showed the directors reviewed records related to the 2019\u00a0deal\u00a0between a group unit,\u00a0Future\u00a0Coupons, and\u00a0Amazon, and argued that disclosures by the United States company before the Competition Commission of India (CCI) when it sought approval of the\u00a0deal\u00a0contradicted\u00a0Amazon\u2018s own internal communications at the time.<\/p>\n<p>Amazon\u00a0and the CCI did not respond to a request for comment on the disclosure on Sunday.<\/p>\n<p>The two companies\u2019 legal dispute, centred around\u00a0Amazon\u2018s\u00a0deal\u00a0to invest $200 million in\u00a0Future\u00a0Coupons, has become a high-stakes battle that could determine the dominant player in\u00a0India\u2019s\u00a0retail market in the years ahead.<\/p>\n<p>Amazon\u00a0has successfully used the tie-up to block\u00a0Future\u2018s attempted sale of retail assets to rival Reliance for $3.4 billion, which the Indian company is banking on to help keep its business afloat.<\/p>\n<p>According to the Sunday filing,\u00a0Future\u2018s directors told the CCI in a November 10 letter that\u00a0Amazon\u2018s intentions were not to invest in\u00a0Future\u00a0Coupons because of its \u201cunique business model and strong growth potential\u201d, as it stated while seeking approvals.<\/p>\n<p>Rather, an internal email from an\u00a0Amazon\u00a0India executive to other senior\u00a0Amazon\u00a0executives, entitled \u201cFuture\u00a0Retail Limited Investment\u201d, said the U.S. firm was using a \u201c\u2018twin-entity investment\u2019 structure to invest in\u00a0Future\u00a0Retail\u201d due to Indian law restrictions.<\/p>\n<p>\u201cThe CCI has to revoke the approval granted for\u00a0Amazon\u2018s investment,\u201d the letter from\u00a0Future\u2018s independent directors stated.<\/p>\n<p>Their filing is the latest salvo in an escalating legal battle.<\/p>\n<p>In July, Reuters exclusively reported that the CCI had reviewed a complaint from\u00a0Future\u00a0and then accused\u00a0Amazon\u00a0of concealing facts while seeking the 2019\u00a0deal\u00a0approval, after the watchdog compared legal disclosures made by\u00a0Amazon\u00a0at several forums.<\/p>\n<p>The company told Reuters at the time that it was confident of addressing the watchdog\u2019s concerns.<\/p>\n<p>India\u2019s\u00a0financial crime-fighting agency has also ordered\u00a0Future\u00a0\u2013 the country\u2019s second-largest retailer \u2013 to submit\u00a0documents\u00a0related to the 2019\u00a0Amazon\u00a0deal\u00a0as part of an investigation into a possible breach of foreign investment laws, Reuters reported last week.<\/p>\n<p>(Reuters)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Independent directors at\u00a0India\u2019s\u00a0Future\u00a0Retail have disclosed\u00a0new\u00a0documents\u00a0in a letter to the country\u2019s antitrust watchdog aiming to\u00a0bolster\u00a0their\u00a0case\u00a0against\u00a0Amazon.com Inc as they seek to revoke a 2019\u00a0deal\u00a0between the two companies. A 160-page stock exchange filing on Sunday showed the directors reviewed records related to the 2019\u00a0deal\u00a0between a group unit,\u00a0Future\u00a0Coupons, and\u00a0Amazon, and argued that disclosures by the United States company before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61074,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[85],"tags":[47684],"class_list":["post-61072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-law-news","tag-case-against-amazon-deal"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India\u2019s Future Retail Discloses New Documents To Bolster Case Against Amazon Deal - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"Independent directors at\u00a0India\u2019s\u00a0Future\u00a0Retail have disclosed\u00a0new\u00a0documents\u00a0in a letter to the country\u2019s antitrust watchdog aiming - Get the latest legal news from the Supreme Court, High Courts, and government. 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Essential updates on judgements, acts, and in-depth analysis for lawyers, advocates, and law students in India.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legalindia.com\/news\/indias-future-retail-discloses-new-documents-to-bolster-case-against-amazon-deal","og_locale":"en_US","og_type":"article","og_title":"India\u2019s Future Retail Discloses New Documents To Bolster Case Against Amazon Deal - Legal News India - Supreme Court &amp; High Court Updates","og_description":"Independent directors at\u00a0India\u2019s\u00a0Future\u00a0Retail have disclosed\u00a0new\u00a0documents\u00a0in a letter to the country\u2019s antitrust watchdog aiming - Get the latest legal news from the Supreme Court, High Courts, and government. 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The CCI said \u201cThe Commission has also imposed a\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61343,"url":"https:\/\/www.legalindia.com\/news\/competition-amendment-bill-2023-merger-control","url_meta":{"origin":61072,"position":1},"title":"Competition (Amendment) Bill 2023: Merger Control","author":"Legal India Admin","date":"April 4, 2023","format":false,"excerpt":"The Competition (Amendment) Bill, 2023, passed by the Indian Parliament on 3 April 2023, is set to introduce a number of key changes to streamline the Competition Commission of India\u2019s merger review process. 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