Following a review of claims that Amazon hid information while seeking regulatory clearance, India's antitrust commission terminated Amazon.com's 2019 partnership with Future Group on Friday.
The Competition Commission of India (CCI) has taken an unprecedented step that could have far-reaching implications for Amazon's legal disputes with former partner Future. For months, the American company has effectively utilized the conditions of its toehold $200 million investment in 2019 to prevent Future from selling retail assets to Reliance Industries for $3.4 billion.
The CCI said in a 57-page judgment that it believes "it necessary to examine the combination (deal) afresh," and that its approval from 2019 "shall remain in abeyance" until then.
The CCI judgment also stated that Amazon had "suppressed the actual scope" of the purchase and made "false and incorrect statements" when seeking clearances.