Amazon Executive Says Bullish On India, Compliant With Laws
Amazon is bullish on the Indian market, and is "absolutely" compliant with laws and regulations in the country, a top company executive said
Stay updated with breaking news from Amazon Future Deal. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Amazon is bullish on the Indian market, and is "absolutely" compliant with laws and regulations in the country, a top company executive said
NCLAT has upheld an order of the CCI which imposed a ₹202 crore penalty on Amazon for failing to reveal crucial details of its acquisition of a 49 per cent stake in Future Coupons.
The hearing of Amazon's plea, initiating insolvency proceedings against debt-ridden Future Retail Ltd has been adjourned by the National Company Law Tribunal (NCLT) until June 14. A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company.
The takeover occurred even though Future's sparring partner, Amazon.com Inc, says it had legal injunctions in place prohibiting such store transfers.
The Supreme Court bench has asked Future Coupons to respond to Amazon’s application by March 16, when the matter will be heard next.