Amazon-Future Tussle: CCI says it will pass an order in due course

The Competition Commission of India said it would pass its order in a dispute between Amazon and Future Coupons (FCPL) in an “reasonable time”, even though the US company declined to give its written response or make oral submissions. Amazon told the CCI that it had challenged the Delhi High Court order in the Supreme … Read more

CCI approves FedEx India’s minority stake-purchase in Delhi

New Delhi: The Competition Commission of India (CCI) on Tuesday approved the acquisition of a minority stake of FedEx India in Delhivery. It has also approved the acquisition of certain operating assets of FedEx India and TNT India by Delhivery. According to a joint notice filed with the regulator, under the proposed combination, FedEx India … Read more

Amazon wanted Future to withdraw complaints made to the Competition Commission

Amazon last month asked Future Group to withdraw its application, accusing the US company of violating Foreign Investment and Foreign Exchange Management Act (FEMA) rules by misrepresenting facts to the Competition Commission of India , said people familiar with the matter. The withdrawal was a prelude to a possible out-of-court settlement of a dispute arising … Read more

Sundaram gets SEBI nod to acquire Principal AMC in India

MUMBAI: Sundaram Asset Management Company on Friday said it has received Sebi’s nod to acquire Principal Asset Management Company in India. A wholly owned subsidiary of Sundaram Finance will acquire 100 per cent of the schemes managed by Principal India and the share capital of Principal Asset Management Pvt Ltd. Ltd., Principal Trustee Company Pvt. … Read more

Future Retail’s independent directors attack Amazon, write another letter to CCI

Ltd (FRL), in another letter to the Competition Commission of India (CRL) on Sunday, accused Amazon of furnishing the Commission with “totally contrary” information and said that they were not interested in Amazon’s information regarding the US. were “contradictory” to their internal communication. The giant’s 2019 investment in the promoter company of FRL. In their … Read more