CURRENT AFFAIRS

Detailed explanation-1: -Amazon was fined for concealing facts while obtaining approval for this deal.

Detailed explanation-2: -The reason for the suspension of its previous approval was because Amazon had suppressed information while seeking clearances for the transaction back then, the fair trade regulator had said and also slapped a fine of ₹ 202 crore on the company. FCPL is a promoter of Future Retail Ltd (FRL).

Detailed explanation-3: -Competition Commission of India (CCI) has recently fined Rs 202 crores on which company? Notes: The Competition Commission of India (CCI) suspended its over two-year-old approval for Amazon’s deal to acquire stake in retailer Future Coupons Private Limited.

Detailed explanation-4: -200 Crores penalty under Section 43A of the Competition Act, 2002. The NCLAT has directed Amazon to deposit the penalty within 45 days and comply with the CCI order.

Detailed explanation-5: -In a major blow to Amazon, the National Company Law Appellate Tribunal (NCLAT) upheld the ₹200 crore penalty imposed on e-commerce giant Amazon by the Competition Commission of India (CCI).