Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
Taking note of a plea by some fishermen seeking compensation, the Supreme Court on Thursday directed the Kerala high court not to disburse any amount from the Rs 2 crore earmarked for the owner of fishing boat St Antony in which two fishermen were killed by Italian marines in 2012.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Justice Manmohan Singh ordered the grounded carrier to pay Rs 28,95,000 to its former pilot, Captain Dinesh Kant Sharma, on his plea seeking payment of his salary for the notice period of five months.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
On Wednesday, Daiichi Sankyo's lawyers argued for a stay on stake sale by Fortis, which was opposed by counsels of the hospital chain and promoter entities.
In a statement, Nike said it did not comment on ongoing litigation.
An Australian court has found in favour of Dutch driver Giedo van der Garde in his bid to force the Sauber Formula One team to let him drive for them this season.
The bench, which was critical of the Centre's stand on the issue, said "You (government) are so short of vaccines and you are not taking it through. May be it is an opportunity for you. Don't be so negative. It is like a raging fire and nobody is bothered. You people don't understand the larger picture or what.
Sebi allowed the deal with some riders, five months after it was announced last August.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
The Indian State's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, observes T N Ninan.
The Europa League champions were sanctioned in February for breaching rules regarding the international transfer and registration of players under 18. They were also fined 600,000 Swiss francs ($603,864.73).
Kishore Biyani-led Future Retail Ltd (FRL) on Thursday told the Delhi high court that Amazon was opposing the Rs 24,713 crore deal with Reliance as the Mukesh Ambani company was a competitor, a contention denied by the US-based e-commerce giant which said it was interested in salvaging FRL. FRL contended before a bench of Chief Justice D N Patel and Justice Jyoti Singh that Amazon was not concerned if the deal falls through then all the shops of the Indian company would be closed down and it's more than 25,000 employees would be without any livelihood. Senior advocate Harish Salve, appearing for FRL, told the court that the US-based e-commerce giant was only concerned that the Mukesh Ambani group company should not get the shops as they are a competitor of Amazon.
'Equal treatment for female athletes requires the IBSF and IOC to allocate the same number of sled spots to women bobsledders as men'
Double Olympic 800 metres champion Caster Semenya offered to show her vagina to athletics officials when she was 18 to prove she was female,
Antonio Watson won a thrilling World Championship 400 metres gold on Thursday.
In a letter to the Prime Minister, the Women of Big Bazaar SOS group said: "Future Retail and Reliance had entered into an arrangement through which Future's retail stores will continue to be operated by Reliance. Reliance has also committed to clear all debts and dues owed by Future Retail to suppliers and vendors."
Russia were scheduled to host Poland in a men's World Cup qualifying playoff on March 24, with the winners set to play Sweden or the Czech Republic five days later. All three teams had refused to play against Russia.
The order in favour of Vodafone is being considered significant because some domestic companies too are involved in similar transfer pricing cases.
A three-day hearing of the Court of Arbitration for Sport (CAS), held over video-conference, concluded on Wednesday and the Lausanne-based court said they would now begin deliberations.
Maran had sought attachment of SpiceJet promoter Ajay Singh's shares by an administrator unless the payment was made.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
the SC said, "We want that adequate compensation be paid to the victims' family".
Vodafone further said it has "always been confident" that no tax is due on the company. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest. Asked if the company has filed an application with the Indian government to settle the retrospective tax dispute, a Vodafone spokesperson said, "We can confirm we have filed an application".
British Olympic 4x100m relay silver medallist Chijindu Ujah's B-sample has also confirmed an Adverse Analytical Finding (AAF) and his case will be referred to the Court of Arbitration for Sport, the International Testing Agency (ITA) said on Tuesday.
Former West Bengal Governor Jagdeep Dhankhar was on Thursday sworn in as the 14th Vice President of India.
The government on Wednesday cleared two ordinances for speedy settlement of commercial disputes in the country, giving a fresh impetus to ease of doing business.
RIL has denied knowingly producing any gas from the ONGC block
Russia's bid to host the Euro 2028 or the Euro 2032 tournaments have also been declared ineligible, the Switzerland-based governing body said.
CAS in 2016 dismissed an appeal against the WADA ban by the three cyclists -- Kirill Sveshnikov, Dmitry Strakhov and Dmitry Sokolov.
The company faces $3-bn payout to Econet Wireless.
The International Weightlifting Federation said in a statement that the two countries' lifters shall not compete at the Tokyo Games, regardless of the change of date. The Thai and Malaysian federations can appeal the IWF ruling to the Court of Arbitration for Sport (CAS) within 21 days.
India accused the two Italian marines on board the MV Enrica Lexie, an Italian flagged oil tanker, of shooting dead two Indian fishermen off the Kerala coast on February 15, 2012.
Khokar gave his verdict on an appeal filed by Umar against the three-year ban imposed on him in April by the Disciplinary Panel of the board after a couple of hearings.
Russian figure skater Kamila Valieva will be allowed to compete in the women's singles in figure skating at the Beijing Olympics after a decision by sport's top court on Monday.
In a fresh twist in the fight to gain supremacy in the Indian retail market, billionaire Mukesh Ambani's Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously. In stock exchange filings, the Kishore Biyani-led debt-laded Future Group firms said they have been served notices to terminate the lease of 835 Future Retail stores and 112 Future Lifestyle stores. Last month, Reliance Retail had taken over store spaces for which the Future Group couldn't pay lease rent. These were then sub-let to the Future Group for operation.
China's top swimmer Sun Yang questioned the credentials of the testers before members of his entourage smashed vials containing his blood samples with a hammer. His eight-year ban rules him out of this year's Tokyo Games
Daiichi alleged that Singh brothers had concealed and misrepresented critical information concerning US Food and Drug Administration and Department of Justice investigations into Ranbaxy
Chijindu Ujah has been provisionally suspended since Ostarine and S-23 -- both substances prohibited by world anti-doping organisation WADA -- were detected in his A and B samples following the final.
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