Amazon on Thursday said it has received a show-cause notice from the Competition Commission of India (CCI) based on a complaint filed by Future Group, with which the e-commerce major is locked in a legal battle. The American company and Future Group - one of the biggest retail companies in the country - have been engaged in a bitter tussle after the latter entered into a Rs 24,713 crore deal with Reliance Industries for its retail, logistics and warehousing assets. "We are in receipt of a show-cause notice from the CCI based on the complaint filed by Future as a part of an ongoing dispute.
The Delhi high court on Tuesday dismissed the pleas moved by Future Group companies seeking a direction to the arbitration tribunal, which is adjudicating on Amazon's objections against their deal with Reliance, to take a decision on their application for the termination of the arbitration proceedings before moving any further. "Both the petitions are dismissed," said Justice Amit Bansal, who had reserved the order on the petitions filed by Future Coupons Private Limited (FCPL) and Future Retail Limited (FRL) on January 3. The judge said the orders would be uploaded on the website of the high court shortly.
The virtual sound has been developed with video game company EA SPORTS FIFA, in a project called Sounds of the Stands.
Nevertheless, FIFA 14 hasn't improved enough to earn an outright recommendation.
While addressing the 14th ASEAN-India summit, the PM noted that growing radicalism and spread of extreme violence are the other security threats.
Volkswagen said last week it would recall and refit 8.5 million vehicles in the European Union.
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.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
Juventus coach Massimo Allegri says Cristiano Ronaldo is ready to play for the Serie A team against Udinese on Saturday.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
E-commerce major Amazon has moved the Supreme Court in a bid to block Future group's Rs 24,713-crore deal with Reliance, according to sources.
Every player in the game will have 'memories' and show 'emotions' based on what's happening in a match.
Former England soccer captain David Beckham is moving into the virtual world as co-owner of London-based start-up Guild Esports. Guild said in a statement on Thursday that it will launch player academies and run teams in various esports arenas including Rocket League, EA Sports, FIFA and Fortnite.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
The Supreme Court Wednesday sought a response from the Future group on Amazon's plea against the January 5 order of the Delhi high court staying the ongoing arbitration proceedings before an arbitral tribunal over Future Retail's Rs 24,500-crore merger deal with Reliance. A bench comprising Chief Justice N V Ramana and Justices A S Bopanna and Hima Kohli issued notices to the Future group firms, Future Coupons Private Ltd (FCPL) and Future Retail Ltd (FRL) and said that it will hear the matter on February 23 "without any adjournment". The Delhi high court on January 5 had stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance.
South Korea is the first country after the US to announce measures.
The agenda prepared by ministers will be discussed by Prime Minister Narendra Modi and other RCEP leaders in Nonthaburi, a city north of Bangkok, on November 4, the official deadline to close talks.
Independent directors of Future Retail Ltd are collating information and will expose the details of contradiction and misrepresentation made by Amazon before the Competition Commission of India (CCI), said FRL independent director Ravindra Dhariwal. Speaking to PTI, Dhariwal said the independent directors are "collating" all the pieces of information together, going "deeper into each and every representation" which Amazon had made before the CCI and showing how its "intent was totally contradictory." "We are going out to point exactly to CCI, this is what they have told you and this is what the internal documents are saying. "We are going to expose the details of contradiction and details of misrepresentation, which they have made," Dhariwal said adding "We are going to show the true face of Amazon to the whole world". In November 2019, Amazon had acquired a 49 per cent stake in Future Coupons Pvt Ltd (FCPL), a company that holds a stake in FRL.
Volkswagen said the 2-litre engines would get a software update.
Watch out for these nine games that are likely to raise the heat in the gaming arena in October this year.
Future Retail Ltd (FRL) on Monday said the Delhi high court has ruled that statutory authorities cannot be restrained from acting in accordance with law and stayed a previous order on status quo of its Rs 24,713 crore deal with Reliance. Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice D N Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2. "...inter alia, for the prima facie reason that the company is not a party to the Shareholders Agreement dated August 22, 2019 executed between Amazon, Future Coupons Private Limited and the Promoters of FRL, under which arbitration was initiated by Amazon in Singapore," FRL said.
Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi high court against the status quo order on its Rs 24,713-crore deal with Reliance. On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Following the Tuesday directive, FRL had said it would explore legal recourse.
Amazon has moved the Supreme Court challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries. Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it "illegal", "random", "inequitable and unfair". On March 22, a division bench of the Delhi high court had granted Future a reprieve from a March 18 single-judge order that restrained it from taking any steps to sell assets to Reliance.
For the past one year, an overwhelming number of farmers have been camping at the Singhu border area of Delhi, braving by turns biting cold, monsoon rains, COVID pandemic scare and also accusations of 'creating obstructions,' but the spirt of solidarity has allowed them to soldier on against all odds.
The Supreme Court on Thursday dismissed a plea by Skoda Auto Volkswagen India challenging an FIR registered in Uttar Pradesh by a customer over the alleged use of 'cheat device' in its diesel car by the company to manipulate emission norms.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
Future Retail Ltd (FRL) on Tuesday said it will explore all legal remedies to pursue its Rs 24,713-crore deal with RIL following a Delhi high court order directing status quo to be maintained till the court pronounces its order. Earlier in the day, a Delhi high court bench of Justice J R Midha directed FRL to maintain status quo in relation to its deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Amazon welcomed the latest court directive.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
In the run-up to Independence Day, Rediff.com presents some interesting facts about India.
Bayannur, Inner Mongolia Autonomous Region, announced a level III warning of plague prevention and control, state-run People's Daily Online reported. The suspected bubonic plague case was reported on Saturday by a hospital in Bayannur.
another Malaysia Airlines has gone down and hours after it 'disintegrated' in the sky, several conspiracies are floating behind the tragedy.
Volkwagen tells dealers in India to stop delivery of Polo
Lending support for India's ambitious Nalanda University project, six countries on Thursday began the process of signing inter-government agreements to pledge their commitment for this academic institution.
The much-anticipated ISL, an IPL-style football league to be organised by IMG-Reliance, is throwing up some interesting possibilities, both on and off the field.
The statement came a day after cricket legends Ian and Greg Chappell and few other prominent Australians urged Adani Group chairman Gautam Adani to abandon the mine project
Images from the Asia Cup match between Bangladesh and India in Fatullah on Wednesday.
Modi will have a number of high-profile multilateral and bilateral meetings with global leaders including United States Vice President Mike Pence and Singapore premier Lee Hsein Loong.
Rent paid to one's wife is eligible for exemption if property, home loan are in her name.
He also reiterated India's strong support in the fight against terrorism with Sri Lanka, which saw the country's worst terror attack on Easter Sunday.
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