Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
Quick commerce (qcom) industry is poised to lead gig workforce hiring in 2025, propelled by a surge in demand for faster deliveries, expansion by existing players, entry of new competitors, and evolving consumer preferences in the post-pandemic era, according to industry experts. The qcom industry currently employs nearly 260,000 people - around 200,000 delivery personnel and 60,000 dark store workers, according to TeamLease Staffing.
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Commerce Minister Piyush Goyal's scathing remarks on Indian startup ecosystem and its innovation priorities have drawn sharp reaction from the industry, with Zepto CEO Aadit Palicha putting up a strong defence citing the company's contribution to jobs, FDI and terming it a "miracle in Indian innovation".
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
A very good mix of movies and Web series arrives on OTT in January.
'There is so much talk about Netflix and what they should be doing.' 'In two years, SonyLIV has done what Netflix should be doing.'
Film folk attended the screening of Richa Chadha and Ali Fazal's festival film Girls Will Be Girls at PVR theatre in Juhu, a northwest suburb of Mumbai. You can watch this film on Amazon Prime Video.
Amazon Fashion flaunts its triple digit month-on-month growth, races ahead of competitors Flipkart, Jabong and Myntra.
The Reliance-Disney joint venture's new, rebranded streaming app JioHotstar will offer subscription plans starting at Rs 149.
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.
Arjun Menon looks at 2024's top Web series from South India.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
Christmas romance, heists, thrillers, it's all there on OTT this week. Sukanya Verma lists her recommendations.
Amazon
The government has imposed a penalty on e-commerce major Amazon for not displaying mandatory information, including the country of origin, of products sold on its platform, according to an official order. Last month, the consumer affairs ministry had issued notices to e-commerce majors Flipkart and Amazon for not displaying such information. The ministry has imposed a fine of Rs 25,000 on Bengaluru-based Amazon Seller Services as well as each of its directors as per the provisions of the Legal Metrology Act, 2009 and the Legal Metrology (Package Commodities) Rules, 2011.
In comparison, Flipkart India, the marketplace unit of the country's largest e-commerce marketplace, posted a 750% growth in losses to Rs 20.6 billion.
The Supreme Court is scheduled to pronounce on Friday the verdict on e-commerce giant Amazon's pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail and is likely to decide whether Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore deal, was valid under Indian law and can be enforced. As per apex court website, the verdict would be pronounced at 10.30 AM by a bench of Justices R F Nariman and B R Gavai which had reserved it on July 29 after hearing battery of lawyers including senior advocates Harish Salve and Gopal Subramanium, appearing for FRL and Amazon respectively. The verdict is keenly awaited as it is likely to deal with the legality and enforceability of an award by an Emergency Arbitrator (EA) of the foreign country here in view of the fact that the term EA is not used in the Indian Arbitration and Conciliation Act.
In a statement, the streamer said it "deeply regrets" the fact that viewers considered certain scenes to be objectionable and added that those have already been removed.
One of the best ways to celebrate Children's Day is by spending quality time with your kids and binge watch meaningful yet entertaining cinema pieces.
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
'Indian players in the digital market should not be dominated by global players, and they should not dominate the smaller players -- these discussions are on.'
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
From Vijay saving the day yet again to Vikramaditya Motwane's latest offering, here's everything you can watch on OTT this week.
The Air India flight crashed into the sea after a mid-air bomb explosion in what was a failed assassination attempt on Chinese premier Zhou En Lai.
'Netflix, Amazon Prime Video, Crunchyroll, and Disney+ Hotstar are continuously expanding their Anime libraries.'
Troubled twins, dangerous cults, portent dreams, telepathic kids, World War III, yakuza clans... Sukanya Verma lists the many options on OTT this week.
'The male-dominant Indian culture displays a lot of violence, a lot of aggression towards women.'
The Karnataka government is planning to levy a fee of 1-2 per cent on aggregator platforms like Swiggy, Zomato, Flipkart, Amazon, Uber, etc., a government source said on Friday, adding that an announcement in this regard could come following a sub-committee meeting next week. "There is a sub-committee meeting scheduled in the coming week.
Billionaire Jeff Bezos, who founded Amazon as an online bookseller nearly three decades ago, will step down as the CEO of the $1.7 trillion global retail giant in the third quarter of 2021 with Andy Jassy being named his successor.
Superheroes, snowmen, freedom fighters, Sukanya Verma lists everything the OTT channels have to offer this week.
Christina Rindiki's all-women team on the India-Myanmar border in Champhai, Mizoram, delivers 300 plus Amazon packets daily. The women handle all aspects of the operation and made around 450 deliveries per day this month alone. This is their story.
Emotions run high more than usual on OTT this week.
Titan will become the latest Indian brand to ride on the back of the global e-retail major
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Kareena's cop, Rajni's supercop and Samantha's spy, it's a star-studded week on OTT this time. Sukanya Verma lists your options on OTT this week.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Amazon Prime Video becomes the first Indian streaming service to secure exclusive live cricket rights from a major cricketing board.
