New Delhi, PTI. American e-commerce company Amazon has asked the Indian company to withdraw its complaint filed with the Competition Commission of India (CCI) with the intention of ending the ongoing dispute with the Future Group. According to sources, Amazon, which is opposing the announced retail business deal between Future Group and Reliance Retail, is now planning to distance itself from the dispute, but the compensation for it is also under discussion.
Sources said that Amazon and Future Group officials also met about two weeks ago to settle the dispute, but Amazon has tried to make it clear that the talk of ending the dispute by taking compensation is wrong.
Sources privy to the developments said that in the meeting, Amazon had also indicated to settle the matter out-of-court. But for this, it has put a condition to withdraw the FEMA law violation complaint filed with the Competition Commission from the Future Group.
The issue of compensation to Amazon in case of its withdrawal from the matter was also discussed. Amazon is opposing the Rs 24,713 crore deal between Future Group and Reliance Retail.
Future Group did not respond to emails sent for comment. At the same time, an Amazon spokesperson said that the matter of separating from the case by taking compensation is being said for a specific purpose.
Let us tell you that the Supreme Court has stayed the merger of Reliance Retail and Future Retail. The court last week put a stay on Future Retail’s deal worth Rs 24,713 crore till November 23. A Supreme Court bench led by the Chief Justice said that the cross-petitions filed by Amazon and Future Retail will be heard on November 23 regarding the deal. The Chief Justice told Future Retail that the Supreme Court had passed a consent order on September 9 itself, under which no regulatory body would approve the deal without the Supreme Court’s approval.