Future Retail Ltd (FRL), which is embroiled in a bitter legal battle with American retail major Amazon, on Sunday accused the latter’s counsels of walking out of a Competition Commission of India (CCI) hearing last week.
This came after anti-trust watchdog said the hearing cannot be postponed to give Amazon further time to make oral submissions, Future Retail said in a regulatory update Sunday.
“At this stage, the counsels to Amazon, in utter disregard to the norms and in utter disrespect to the Indian statutory regulatory authority refused to argue the matter and walked out of the proceedings in an attempt to browbeat the CCI,” it said.
FRL was referring to a November 24 hearing of a show-cause notice (SCN) issued by CCI to Amazon earlier. The notice was issued based on a complaint by Future Coupons Private Ltd (FCPL), which owns nearly 10% in FRL, accusing Amazon of making false representations while seeking CCI approvals for investing in the company.
At the CCI hearing Amazon also tried to “stall” the hearing stating it had filed a special leave petition in the Supreme Court.
“When it failed to get relief from the Supreme Court, it then sought an adjournment from the CCI, and when that was refused, in a display of outright contempt for an Indian statutory authority, this trillion dollar American company walked out of the hearing.”
“The conduct of Amazon smacks of arrogance,” it said, adding, CCI should deal with this “conduct of Amazon appropriately”.
Earlier FRL’s independent directors had alleged that the submissions by Amazon before CCI were completely “contradictory” and reiterated their plea for revocation of a CCI approval given two years ago.