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.
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.
Amazon
Payal Kapadia, Ridley Scott, M Night Shyamalan.., catch the works of these fine filmmakers on OTT this week.
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.
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.
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 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.
Amazon Fashion flaunts its triple digit month-on-month growth, races ahead of competitors Flipkart, Jabong and Myntra.
In a significant order, the Supreme Court has restrained the Enforcement Directorate from accessing and copying content from electronic devices seized during searches against Santiago Martin, also known as the 'lottery king', his relatives, and employees.
'Investment by insurers in the Bima Sugam India Federation is illegal as it is a private limited company.'
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
'... and wants to become a man, things change.' 'The child no longer wants to listen to anyone, and the father doesn't stay silent.'
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.
Rediff.com, one of India's pioneering internet companies, on Tuesday announced the appointment of Mr Vishal Mehta as its new Chairman and Managing Director. This key leadership change follows Infibeam Avenues Ltd's acquisition of a majority stake in Rediff.com.
'Varun was so exhilarated with the intense physical action sequences.' 'Samantha is very agile.' 'I don't know how they did it. It's really hard.'
'On the governmental level, we are saying all the right things, like beti bachao, beti padhao. Yet, a High Court judge in Prayagraj, who is highly educated, has studied the Constitution and its laws, says breaking the naada of a pyjama or touching the breasts of a minor girl is not part of the reform process. Just giving lip service is not enough, the general mindset has to change.'
'Shivaji and Sambhaji followed the gospel of humanity. 'They did not discriminate based on religion, caste, or colour.' 'That is the beauty of Shivaji and Sambhaji's Hindvi Swaraj.'
Fast, furious and fashionable, it's all there on OTT this week. Here's the action-packed menu.
Later in the day, Flipkart condemned the attack and said it has blacklisted the seller from its platform and is extending all support to the probe agencies.
From wannabe astronauts to visually disabled heroes, be sure to make some time for all the OTT action Sukanya Verma recommends this week.
'Thanks to Chhaava's success, I now have the creative freedom to pick and choose.'
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.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Dr Nandita Palshetkar, IVF expert and medical director, Bloom IVF, explains how certain behaviour can lead to poor quality of sperm.
'With a very stable technology with limited functionalities, a large network has spanned out.'
Edamame + truffle oil + basmati rice = an exquisite combo.
'Rest in peace Fudge, I love you fighter. 16 years of life filled with so much food and joy.'
'It is imprudent on the part of Indian insurance companies to invest out of the shareholders' fund in a private limited company.'
Calling Maharashtra Governor B S Koshyari an 'Amazon parcel' sent by the Centre, former Maharashtra chief minister Uddhav Thackeray, who heads a faction of the Shiv Sena, on Thursday demanded his recall over his recent remarks on Chhatrapati Shivaji Maharaj.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Sean Baker broke a record by winning four Oscars just himself for Anora: Best Picture, Best Director, Best Editing and Best Original Screenplay.
Amazon Prime Video becomes the first Indian streaming service to secure exclusive live cricket rights from a major cricketing board.
Paatal Lok 2 breaks the second season curse and spins yet another engrossing mystery, observes Mayur Sanap.
'I hadn't worked for three-and-a-half years.' 'I felt industry was based on who you knew.' 'I didn't belong to a network.'
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Titan will become the latest Indian brand to ride on the back of the global e-retail major
Preity Zinta, co-owner of the Punjab Kings IPL franchise and the Saint Lucia Kings CPL team, was ecstatic as her team finally won their first-ever Caribbean Premier League championship.
Citadel: Honey Bunny is a decent watch with an average story, sharp stunts and brilliant music, observes Divya Nair.
Sukanya Verma gives you some interesting options to choose from.
