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Antitrust regulator accuses Amazon of concealing facts, false submissions
- Thursday | 22nd July, 2021
NEW DELHI (Reuters) -India’s antitrust regulator has accused Amazon.com Inc of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the US e-commerce giant seen by Reuters showed. “The representations and conduct of Amazon before the Commission amounts to misrepresentation, making false statement and suppression or/and concealment of material facts,” the letter said. The CCI’s 2019 approval order states its decision “shall stand revoked if, at any time, the information provided” is found to be incorrect. Shares in Future Retail jumped after Reuters published details of the letter, extending gains to be up nearly 5% in Thursday afternoon trade. But Amazon later claimed before an arbitrator that the agreement was an “integrated part” of the transaction, the letter said.
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