Amazon's January 19 letter opposing the sale of small-format stores by Future Retail Limited (FRL) has elicited a terse response from the latter's independent directors, who asked the e-commerce giant to pay Rs 3,500 crore to FRL so that it can repay its lenders, media reports said.
New Delhi/UNI/IBNS: American e-commerce giant Amazon has landed in fesh trouble as Delhi-based Confederation of All India Traders (CAIT) on Friday has filed a petition before the Competition Commission of India (CCI) seeking to block Amazon's deal to acquire 100 per cent stake in Cloudtail.
New Delhi/IBNS: Amazon has approached the courts challenging the recent decisions in its protracted legal dispute with Kishore Biyani-led Future Group after the Competition Commission of India suspended a 2019 deal between the two sides, leading to a halt in their arbitration, Reuters reported on Sunday citing sources.
Delhi/IBNS: The Delhi High Court on Wednesday told the Enforcement Directorate (ED) that it cannot force a top Amazon executive, who lives in Mumbai and is a mother of an unvaccinated two-year-old child, to be physically present to answer summons as part of its probe into the Amazon Future Group deal, media reports said.
New Delhi/IBNS: In a major setback to Future Group, the Delhi High Court has dismissed the pleas filed by Future Group of companies to terminate the arbitration proceedings with Amazon going on in Singapore International Arbitration Centre, media reports said.
New Delhi/IBNS: Amazon has sought regulatory approval to acquire acquire Catamaran Venture’s entire stake in Prione Business Services, which owns Cloudtail, one of the largest sellers on the US-based ecommerce major’s Indian platform, Economic Times reported.
New Delhi/IBNS: Amazon is set to sue the Enforcement Directorate (ED) over the agency's probe in its 2019 deal with Future Group.
Prione Business Services, the joint venture between Narayan Murthy-led Catamaran and Amazon, will be acquired by Amazon.
New Delhi/IBNS: Amazon suffered a setback Friday as the Competition Commission of India (CCI) suspended its deal with Future Group after reviewing complaints that US-based e-commerce giant concealed information while seeking regulatory approval, media reports said.
Kolkata/UNI: Amazon India Sunday announced that more than 70,000 Indian exporters which are part of its 'Global Selling Program' have geared up to present ‘Made in India’ products to Amazon's customers during the annual Black Friday and Cyber Monday (BFCM) sale.
Singapore: Future Retail cannot avoid being part of the arbitration process over a commercial dispute with Amazon.com Inc, a Singapore arbitration panel ruled on Wednesday, Reuters reported.
Mumbai/IBNS: Reliance Retail Ventures Ltd. (RRVL) has extended the long-stop date for the completion of its deal with Future Group by six month to March 31, 2022, according to media reports.
New Delhi/IBNS: Hours after RSS-linked magazine Panchjanya attacked Amazon as "East India Company 2.0" and tagged it as a "threat to indigenous entrepreneurship", the e-commerce giant responded on Monday citing its "positive impact on small businesses... including sellers, artisans, and delivery and logistics partners".
New Delhi/IBNS: In a bid to increase farm productivity and ensure food security, the government has embarked on an ambitious productivity drive aimed at transforming the country's agricultural industry, according to a media report.
New Delhi/IBNS: In a big relief to Future Group, the Supreme Court has halted the seizure of Future Coupons, Future Retail and Future Group owned by Kishore Biyani.