Page 26 - Amazon

No party to benefit from measures against FRL for loan defaults: SC

The consortium of banks said that they will have to take a business call with regard to the default in repayment of loan

Top headlines: India Inc to benefit from capex push; Modi hails Budget 2022

Business Standard brings you the top headlines on Tuesday

Amazon vs Future: SC sets aside HC orders, asks for fresh decision on merit

In a major relief to Future group, a bench headed by CJI also set aside Delhi HC's order of Feb 2 last year, by which it had directed FRL to maintain status quo in relation to the merger deal with RIL

Future-Amazon row: SC to pronounce verdict on Future's plea on Tuesday

The US firm, which has invested in FCPL, has been opposing the deal

Government as hacker: Democracy undone

The rules that permit surveillance by the government under the IT Act do not allow hacking. Hacking remains illegal under Section 43 of the IT Act with no exceptions.

FRL's independent directors acting for benefit of promoters: Amazon

It is not for the benefit of FRL's shareholders, creditors, vendors and employees, alleged Amazon's letter to FRL's independent directors

Amazon paid employees to tweet nice things about the company: Report

E-commerce giant Amazon has shut down a controversial influence campaign in which it paid its employees to tweet nice things about the company, Financial Times reported on Thursday.

FIR against Amazon sellers for printing national symbols on products

An FIR has been registered in Bhopal against unidentified sellers on e-commerce giant Amazon for printing national symbols on various products, said police."An FIR has been registered against sellers on Amazon for printing national symbols on shoes, mugs, and T-shirts; notices are being sent to the company," said Bhopal Police Commissioner, Makrand Deuskar on Tuesday.Bhopal's Crime Branch has registered an FIR under section 2 of the Prevention of Insults to National Honour (Amendment) Act and section 505 (2) of the Indian Penal Code.The action came after state Home Minister Narottam Mishra on Tuesday told media persons that directed DGP to register an FIR against officials of Amazon and its owner for allegedly selling products with images or imprints of the tricolour on them."It has come to my notice that our national flag is used on products being sold by the online e-commerce platform Amazon. It is intolerable that even it (the national flag) has been used on shoes," Mishra had

FRL seeks time on loan dues; independent directors accept Reliance's offer

Retailer asks apex court to direct banks on not labelling it NPA

FRL's independent directors accept Reliance's bailout offer, reject Amazon

Independent directors of Kishore Biyani-led Future Retail Limited told Amazon its offer to provide Rs 3,500-cr funding was 'a game of smoke and mirrors'

FRL launches SC challenge against own lenders to avoid a defaulter tag

Earlier this month, Future Retail had said it had missed the due date for the payment of Rs 3,494.56 cr to banks and lenders as it could not sell assets due to its ongoing litigation with Amazon

Traders' body CAIT moves CCI against Amazon deal with More Retail

Traders' body CAIT on Monday filed a complaint with the Competition Commission of India against Amazon accusing the e-commerce major of committing a fraud while seeking approval for the takeover of More Retail's stores in India. The Confederation of All India Traders (CAIT) claimed that in case of acquiring More Retail, Amazon committed the same fraud, misrepresentation of facts, misleading the CCI in the matter too as was done in takeover of Future Retail. "It amply exposes the sinister designs of Amazon to control Indian retail companies in a fraudulent manner to capture the physical retail trade and inventory-based e-commerce in India causing enormous harm to the traders," the traders' body alleged. CAIT said that Amazon has taken over More Retail through Samara Alternate Investment Fund (Samara AIF) that owns 51 per cent equity in Witzig Advisory LLP that in-turns owns More Retail Limited. It further stated that Amazon has obtained approval from CCI for the takeover of More Ret

Amazon's offer legally invalid, can't accept: FRL independent directors

Independent directors of Future Retail have turned down Amazon's offer of financial support to the company through a deal with private equity firm Samara Capital

Amazon faces flak on social media for allegedly insulting Indian flag

Amazon faced the ire of a section of Indian social media users over merchandising some products, including apparel and food items, that feature images of the Indian flag

Samara Capital ready to invest Rs 7K crore in Future Retail: Amazon

FRL had set conditions to accept Amazon's proposal in a letter sent to the US e-commerce firm dated January 21

CAIT seeks meeting with CCI head for early probe on Amazon, Flipkart

CAIT which represents 70 million traders, said it is learnt that CCI has transferred midway, the officer who was investigating Amazon, which has irked the country's business community

Amazon confirms Samara Cap to invest Rs 7,000 cr in FRL to acquire assets

Amazon has written to independent directors of Future Retail Ltd, confirming that Samara Capital 'remains interested and committed' to invest Rs 7,000 crore for buying all retail assets of company

Willing to accept Amazon's proposal, but under certain conditions: FRL

Future Retail is required to pay its lenders Rs 3,500 crore by January 29, 2022 and it has asked Amazon to confirm its willingness to pay the amount by Monday

FRL independent directors ask Amazon to confirm Rs 3,500-cr infusion by Sat

On January 19, Amazon had written to the independent directors of FRL reiterating its willingness to assist the Mumbai-based company in addressing its financial concerns

Willing to assist FRL, including proposed infusion of Rs 7,000 cr: Amazon

Amazon said it has consistently emphasised its willingness to assist FRL before the arbitral tribunal and Indian courts