New Delhi: The Competition Commission of India (CCI) approved the Rs 24,713 crore deal between Reliance Industries and Future Group . The deal was signed by Reliance Group in August to acquire the retail, wholesale, warehousing and logistics business of Future Group. CCI tweeted on Friday, "The deal was approved for the acquisition of Reliance Retail Ventures Ltd and Reliance Retail & Fashion Lifestyle Ltd of Future Group's retail, wholesale, warehousing and logistics business." Deals require CCI approval. The CCI acts as a regulator to monitor unfair trade activity in the market and to maintain competition.
However , the US e-commerce company has initiated legal actions against the Future-Reliance deal . The case between Future Group and Amazon is pending before the Delhi High Court. The Delhi High Court on Friday reserved its judgment on Future Group's plea to ban Amazon from interfering in the deal. The court has given time till 23 November to the concerned parties to submit their written response to it. Last year, Amazon bought a 49 percent stake in Future Coupons Ltd., an unlisted company of the group. It also acquired the right to buy a stake in the group's listed company Future Retail Limited earlier. Amazon claims its deal with Future Coupons prevents the group from dealing in Future Retail.