Amazon's ₹202cr CCI penalty quashed by India's Supreme Court
Big news for Amazon: India's Supreme Court just tossed out a ₹202 crore penalty from the Competition Commission of India (CCI).
The fine was for allegedly hiding details about Amazon's 2019 investment in Future Coupons.
This all wraps up after Amazon and Future Group settled things last month, officially ending their long legal battle.
Amazon's $200m 49% Future Coupons stake
Back in 2019, Amazon put $200 million into Future Coupons, grabbing a 49% stake and some serious say over Future Retail's assets, including blocking sales to rivals like Reliance.
Things got messy when Future tried to sell its retail business to Reliance in 2020, which Amazon opposed.
CCI then accused Amazon of not being upfront about its real intentions and hit it with the penalty, which was canceled after both sides made peace.