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CAIT says Amazon s arbitrary policies to dominate India s retail trade should end
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Last Updated: Dec 21, 2020, 08:41 PM IST
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The court rejected Future Retail Ltd s (FRL) plea for an interim injunction to restrain Amazon from writing to Sebi, the Competition Commission and other authorities about the SIAC arbitral order against the proposed Rs 24,713 crore deal with Reliance Retail.
AFP
NEW DELHI: Trader s body CAIT on Monday said Amazon s manipulative, coercive, arbitrary and dictatorial policies to dominate India s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon.
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New Delhi, December 21
Trader’s body CAIT on Monday said Amazon’s “manipulative, coercive, arbitrary and dictatorial policies” to dominate India’s retail trade should come to an end, hours after the Delhi High Court passed an order related to Future Group’s proposed asset sale to Reliance Retail, a deal that is being opposed by Amazon.
The court rejected Future Retail Ltd’s (FRL) plea for an interim injunction to restrain Amazon from writing to Sebi, the Competition Commission and other authorities about the SIAC arbitral order against the proposed Rs 24,713 crore deal with Reliance Retail.
Justice Mukta Gupta said while FRL has made out a prima facie case of interim injunction, the relief cannot be granted as the balance of convenience lies in favour of both FRL and Amazon, and whether any irreparable loss would be caused to either side, has to be determined during trial of the suit or by a competent forum.
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Farmers’ protests resulting in daily loss of Rs 3,500 crore: Assocham PTI
New Delhi: Industry body Assocham urged Tuesday the Centre and farmers’ organisations to resolve the impasse over the new agri laws. It said the protests against new agri laws are inflicting a heavy blow to the economies of Punjab, Haryana, Himachal Pradesh and J&K.
‘A daily loss of Rs 3,000-3,500 crore is resulting in the economies of the region from the value chain and transport disruption. This is happening due to the protests’, according to a rough estimate by the chamber.
Assocham president Niranjan Hiranandani said, “’The size of the combined economies of Punjab, Haryana, Himachal Pradesh and J&K is about Rs 18 lakh crore. With the ongoing farmers’ agitation and blockade of roads, toll plazas and railways, the economic activities have come to a halt.”