Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 04 JUNE 2026

Supreme Court Sets Aside CCI Penalty Order In Amazon-Future Coupons Case: Clarifies Key Merger Control Principles

Khaitan & Co.
Khaitan & Co.
Contributor
Khaitan & Co.

Khaitan & Co.

Founded in 1911, Khaitan & Co is a heritage law firm that has been a trusted adviser to leading...

View firm profile
Explore more from Khaitan & Co.

The Supreme Court of India (SC) set aside the Competition Commission of India’s (CCI) penalty order dated 17 December 2021 (CCI Order) and the National Company Law Appellate Tribunal’s (NCLAT) judgment dated 13 June 2022 in Amazon.com NV Investment Holdings LLC v Competition Commission of India & Ors.

IndiaAntitrust/Competition Law
Anisha Chand
Anisha Chand
Vrinda Bhardwaj
Vrinda Bhardwaj
Priyal Shukla
Priyal Shukla
Author LinkedIn connections

The Supreme Court of India (SC) set aside the Competition Commission of India’s (CCI) penalty order dated 17 December 2021 (CCI Order) and the National Company Law Appellate Tribunal’s (NCLAT) judgment dated 13 June 2022 in Amazon.com NV Investment Holdings LLC v Competition Commission of India & Ors.

Brief Background

In 2019, Amazon proposed to acquire a 49% stake in Future Coupons Private Limited (FCPL), a Future Group promoter-group entity with significant shareholding in Future Retail Limited (FRL). The transaction was notified to the CCI in Form I on 23 September 2019, disclosing the FCPL Shareholders' Agreement (FCPL SHA), the FRL Shareholders' Agreement (FRL SHA), and five Business Commercial Agreements (BCAs). The CCI approved the transaction on 28 November 2019.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this document does not necessarily reflect the views / position of Khaitan & Co but remain solely those of the author(s). For any further queries or follow up, please contact Khaitan & Co at [email protected].

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

An Update On India’s Proposed Digital Competition Law

India’s proposed Digital Competition Law has evolved through several stages, from the 2022 Parliamentary Committee report and the 2024 Committee on Digital Competition Law’s draft Bill, through a 2025 government reconsideration, to renewed Parliamentary backing for an ex-ante framework in August 2026. Drawing on comparative experience from the EU, UK, and Japan, this article argues that legislative reform must be matched by a strengthened Competition Commission of India if ex-ante regulation is to work in practice.
IndiaAntitrust/Competition Law
Corporate Professionals - Advisors & Advocates
Corporate Professionals - Advisors & Advocates
Article

Competition Law Updates August 2026

On 13 July 2026, the Competition Commission of India (CCI) imposed penalties exceeding ₹142 crore on HP India and several reselers under Section 27 of the Competition Act, 2002 (Competition Act) for cartelisation and bid rigging in the sale and supply of HP personal system products, including laptops, desktops, workstations and accessories (Computers Case), and ink and toner cartridges (Cartridges Case). The orders arose from lesser penalty applications filed by HP India under Section 46 of the Competition Act read with the CCI (Lesser Penalty) Regulations, 2009.
IndiaAntitrust/Competition Law
King, Stubb & Kasiva
King, Stubb & Kasiva
Article

Adjudication Or Legislation? Google's Play Store Battle Before The CCI And The Future Of Digital Competition Law In India

As the world evolves, every economy is now making progress towards becoming a technology-driven economy and there is an ongoing debate to bring specific changes to the competition law for a technology-driven economy. The prevailing view, however, is that the existing Competition Act, 2002 (Competition Act) already reaches several technology-based claims, and major jurisdictions have stretched their competition statutes to cover platform conduct rather than wait for bespoke digital-market legislation.
IndiaAntitrust/Competition Law
Hammurabi & Solomon Partners
Hammurabi & Solomon Partners
Article

Ministry Of Labour And Employment Operationalises The Provisions On Payment Of Statutory Bonus

On 25 August 2026, the Ministry of Labour and Employment issued two notifications (Notifications) under the Code on Wages, 2019 (Wage Code), thereby operationalising specified provisions relating to payment of statutory bonus for establishments for which the appropriate government is the Central Government. The Wage Code consolidates the legislative framework governing wages and related employee entitlements, including the regime previously governed by the Payment of Bonus Act, 1965.
IndiaEmployment and HR
Khaitan & Co.
Khaitan & Co.
Article

Punjab And Haryana High Court Strikes Down JAO - FAO Retrospective Amendment As Unconstitutional

The Hon’ble Punjab and Haryana High Court (HC) in Jyoti Sareen vs. UOI & Others (CWP No. 15791-2024 (O&M)) (Order) held the retrospective amendments carried out vide the Finance Act, 2026, with respect to the powers of the Jurisdictional Assessing Officer (JAO) to issue a reopening notice under section 148 (Reopening Notice) of the Income-tax Act, 1961 (IT Act), as unconstitutional, being violative of the ‘doctrine of separation of powers’ and thus violative of Article 14 of the Constitution of India.
IndiaGovernment, Public Sector
Khaitan & Co.
Khaitan & Co.
Article

Supreme Court Clarifies Applicability Of SARFAESI Remedies For A Secured Creditor Who Acquires An NPA From A Non-notified NBFC

In Kotak Mahindra Bank Limited v Trupti Sanjay Mehta and Others, 2026 INSC 943 (Kotak Mahindra), the Hon’ble Supreme Court of India considered whether a bank as defined under Section 2(1)(c) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) could invoke the provisions of the SARFAESI Act to recover a secured debt acquired from an entity which was not covered under the ambit of the SARFAESI Act at the time of disbursement of the loan.
IndiaFinance and Banking
Khaitan & Co.
Khaitan & Co.
Article

DOT Notifies Telecom Network Authorisation Rules, 2026: What Has Changed?

On 20 July 2026, the Department of Telecommunications (DoT) notified the Telecommunications (Authorisation for Telecommunication Network) Rules, 2026 (Rules). The Rules operationalise Section 3(1)(b) of the Telecommunications Act, 2023 and establish a framework for six categories of telecommunication network authorisations: infrastructure provider (IP) (formerly, IP-I), digital connectivity infrastructure provider (DCIP), internet exchange point (IXP) provider, satellite earth station gateway (SESG) provider, cloud-hosted telecommunication network (CTN) provider and mobile number portability (MNP) provider.
IndiaMedia, Telecoms, IT, Entertainment
Khaitan & Co.
Khaitan & Co.