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Amazon has put condition before future to withdraw fema complaint: sources

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Amazon has put condition before future to withdraw fema complaint: sources

New Delhi, Nov 22 (PTI) US e-commerce giant Amazon has asked the Indian company to withdraw its complaint filed with the Competition Commission of India (CCI) in a bid to settle its 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.

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