New Delhi: The Supreme Court on Wednesday set aside the National Company Law Appellate Tribunal's (NCLAT) June 2022 order that had rejected US e-commerce giant Amazon's appeal against the suspension of its investment deal with the Future Group.

A bench of Justices Vikram Nath and Sandeep Mehta also quashed the Competition Commission of India's (CCI) December 17, 2021 order, which had imposed a Rs 202 crore penalty on Amazon and halted its deal with the Future Group.

"In view of the findings recorded above, the appeal is allowed. The impugned judgement dated June 13, 2022 passed by the NCLAT and order dated December 17, 2021 passed by the CCI are set aside," the bench ruled.

The apex court passed the order on a plea filed by Amazon challenging the NCLAT verdict. The court directed that any amount deposited or recovered from Amazon in pursuance of these orders be refunded within eight weeks.

It further stipulated that if the refund is not made within the stipulated period, the unpaid amount shall carry simple interest at the rate of 9 per cent per annum from the expiry of eight weeks till the date of actual payment.