In a major victory for US e-commerce giant Amazon, the Supreme Court of India has cleared its disputed investment deal with Future Group and cancelled a Rs 202 crore penalty. The court has ordered that any money Amazon already paid toward this fine must be fully refunded within eight weeks.
The dispute arose from an investment transaction between Amazon and the Future Group. On December 17, 2021, the Competition Commission of India (CCI) suspended the deal and fined Amazon Rs 202 crore for alleged anti-trust violations.
Amazon challenged this decision, but the National Company Law Appellate Tribunal (NCLAT) dismissed its appeal on June 13, 2022. Amazon then took the fight to the Supreme Court of India.
The Court’s Decision
A two-judge bench consisting of Justice Vikram Nath and Justice Sandeep Mehta ruled in favor of Amazon. The bench completely threw out both the NCLAT’s June 2022 ruling and the CCI’s December 2021 order.
Pronouncing the verdict, Justice Vikram Nath stated:
“In view of the findings recorded above, the appeal is allowed. The impugned judgement dated June 13, 2022 passed by the NCLAT and order dated December 17, 2021 passed by the CCI are set aside.”
The bench also directed that any penalty amounts collected from Amazon under the overturned orders must be returned in full within eight weeks.
