Why is Amazon world’s largest e-commerce company seeking to derail a deal that’s essentially bailing out Future Group, a beleaguered retailer, whose market valuation is less than 1% of its own? Here’s what we know so far
Amazon-Future Retail deal comes under ED scanner for FEMA violations
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Last Updated: Jan 28, 2021, 06:58 PM IST
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The Delhi High Court had last month observed that Amazon appeared to have indirectly obtained control over Future Retail without the approval of the government.
Amazon s attempt to control Future Retail through a conflation of agreements appears to be violative of FEMA’s FDI rules, according to the Delhi High Court.
New Delhi: A month after the Delhi High Court passed adverse remarks against Amazon.com Inc., the Enforcement Directorate (ED) has launched a probe against the Seattle, US-based e-commerce firm to investigate whether it violated the Foreign Exchange Management Act, 1999, (FEMA) in its deal with
PTI | | Published 25.01.21, 02:27 AM
Mukesh Ambani’s Reliance Industries Ltd has completed the spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said.
The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business.
Reliance for the first time reported integrated earnings of the O2C business in its third-quarter financial results. Earlier, the refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm’s overall retail business.
India Business News: Mukesh Ambani's Reliance Industries Ltd (RIL) plans to embed its ecommerce app JioMart into WhatsApp within six months, financial daily Mint reported
Morgan Stanley names Sanjay Shah as new country head in India promotion spree
The headquarters of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton/Files
(Reuters)
. Updated: 12 Jan 2021, 04:28 PM IST Bloomberg
Sanjay Shah will be the bank’s country head for India, effective immediately. Kamal Yadav and Sachin Wagle will become co-heads of the country’s investment banking, while Samarth Jagnani is the new chief for global capital markets in India
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Morgan Stanley made several senior appointments from country head to chiefs of investment banking in India after the US bank cemented multi-billion dollar deals in the Asian country in the past year.