BIG STORY

The Competition Commision of India has raided the offices of Cloudtail, Appario Retail, top sellers of Amazon and several Flipkart seller offices

Updated : Apr 28, 2022

CCI raids Amazon, Flipkart seller offices; CAIT welcomes the move

The raids in progress even as Cloudtail India, which drives nearly 80% of Amazon’s sales and was recently acquired by the e-tailer is in the process of shutting down.

Former CEO of B2B fashion e-commerce company, Zilingo, Ankiti Bose has sent a legal notice to the company board levelling allegations of harrasment, abuse

Updated : Apr 27, 2022

EXCLUSIVE: Former Zilingo CEO Ankiti Bose sends legal notice to company board, alleges COO, CTO remained silent on harassment charges

The legal notice, a copy of which has been seen by BT, also levels charges against Zilingo's co-founder and CTO, Dhruv Kapoor, and its COO, Aadi Vaidya, that the two had not helped her when she first informed them of the harassment that she was facing.

It is interesting to note to note that Elon Musk needs to fund $21 billion.

Updated : Apr 27, 2022

Tesla stocks tank over 12% after Elon Musk buys Twitter

The company lost over $126 billion in valuation amid concerns that Elon Musk would sell his stake in the electric vehicle company.

Infosys CEO, Salil Parekh has said that the IT services provider will not engage with any Russian business going forward

Updated : Apr 13, 2022

Infosys has no plans to engage with any Russian company: CEO Salil Parekh

Parekh said that the Infosys has 100 employees working in Russia office and the company is in the process of transitioning its services out of the country.

The Competition Commision of India has ordered a probe into alleged anti-compeititive practices of Swiggy, Zomato

Updated : Apr 4, 2022

CCI orders probe into Zomato, Swiggy biz models

The DG is directed to carry out a detailed investigation and submit a report to the Commission, within 60 days, CCI stated.

Updated : Mar 10, 2022

After Reliance's takeover of Future's stores, miffed lenders may approach SEBI

Last week, Reliance had taken over control of nearly 200 small-format retail stores of the debt-ridden Future Group.

BharatPe has hit out at its ex-co-founder and Managing Director, Ashneer Grover saying that he and his family misused company funds to support lavish lifestyle

Updated : Mar 2, 2022

Ashneer Grover, family misused firm’s money to fund lavish lifestyle: BharatPe

Fintech unicorn BharatPe has strongly hit out at its ex-co-founder and managing director Ashneer Grover after the latter resigned from the company yesterday.

BharatPesaid that it reserves the right to take action against Ashneer Grover

Updated : Mar 1, 2022

BharatPe to take action against Ashneer Grover for his conduct

The company has been conducting a governance review and has roped in risk advisory firm Alvarez and Marsal, consulting firm PwC and law firm Shardul Amarchand Mangaldas and Co, to probe into alleged funds misappropriation and corporate governance issues under Grover.

BharatPe's co-founder and Managing Director, Ashneer Grover is likely to be sacked from his role after he went on a voluntary leave in January

Updated : Feb 24, 2022

Ashneer Grover likely to be sacked from BharatPe: Sources

This comes after BharatPe confirmed to Business Today that it has terminated the services of Madhuri Jain, Grover’s wife and the company’s ex-head of controls, who was involved in recruitment and financial operations of the New Delhi-based company.

India is estimated to have a shortage of 14-19 lakh techies by 2026 according to Nasscom, Zinnov report

Updated : Feb 17, 2022

India could face a shortage of 14-19 lakh techies by 2026: Nasscom-Zinnov report

Despite producing 21.4 lakh STEM graduates annually, the proportion of digital skills is less than 1%, the report added.

BharatPe 's preliminary findings of a probe underway finds discrepencies with vendor payemnts, recruitments involving co-founder, Ashneer Grover and his wife Madhuri Jain

Updated : Feb 4, 2022

Ashneer Grover’s wife, brother-in-law faked invoices, committed recruitment scam: Bharat Pe probe

The report, which was reviewed by the Business Today refers to the October, 2021 search conducted by the Directorate General of GST Intelligence (DGGI) at BharatPe’s head office and issued summons to the company’s authorised signatory to appear before the authority on November 1, 2021

Mobility giant Ola is scouting for land to set up a new factory for manufacturing electric cars, Business Today has learned

Updated : Jan 25, 2022

EXCLUSIVE: Ola gears up for a new future factory for its electric car

Ola Electric’s four-wheeler ambitions are taking a serious shape now with few concept designs almost ready.

The National Company Law Apellate Tribunal(NCLAT) has stayed an order from National Company Law Tribunal(NCLT) which had initiated insolvency proceedings agaisnt HCL Technologies

Updated : Jan 19, 2022

EXCLUSIVE: NCLAT stays order on insolvency proceedings against HCL Tech

In a major relief to the IT services company, HCL Technologies, the National Company Law Appellate Tribunal (NCLAT) has stayed the order passed by National Company Law Tribunal (NCLT) on January 17,2022 which had directed the initiation of insolvency proceedings against the tech major.

(L-R) Varun Grovar, Co-Founder, Lifelong Online, Bharat Kalia, Co-Founder, Lifelong Online, Atul Raheja

Updated : Jan 14, 2022

E-commerce roll-up giant Thrasio enters India with Rs 3,750 cr investment

This announcement comes on the heels of nearly a $1 billion fund-raise that the roll-up unicorn raised in October last year, which was led by Silver Lake at a $ 5 billion valuation.

HCL Tech has removed the contentious clause of Employee bonus repayment for policy after facing outcry

Updated : Jan 14, 2022

HCL Tech revokes one contentious bonus recovery policy, ex-employees mull legal action

HCL Tech removes one controversial clause of recovery of Employees Performance Bonus (EPB) from its HR policy. Another remains though.

Logistics startup, Dunzo raised $200 million by Reliance Retail

Updated : Jan 6, 2022

Reliance Retail invests $200 mn in Dunzo; to pick 25.8% stake

Dunzo raised $240 million led by Reliance Retail with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.

Updated : Jan 3, 2022

Case of misinterpretation says WazirX over Rs 40 crore GST evasion charge

After the GST Mumbai East Commissionerate of Mumbai Zone on Friday detected a GST evasion worth Rs 40.5 crore by the cryptocurrency exchange, WazirX, Zanmai Labs, which manages the crypto firm, said that it has been diligently paying tens of crores worth of GST every month.

Amazon India has sought regulatory approval from the Competition Commision of India for acquiring Catamaran Venture's stake in Cloudtail

Updated : Dec 22, 2021

Amazon to acquire Narayana Murthy-led Catamaran Venture’s stake in Cloudtail

Amazon India has sought the approval from the Competition Commision of India (CCI) for acquisition of the Catamaran Venture’s stake in Cloudtail.

Updated : Dec 20, 2021

Razorpay’s valuation soars to $7.5 bn with a fresh $375 mn fundraise

According to an official statement, this Series F round is also one of the fastest increases in valuation for an Indian unicorn this year.

The Competition Commision of India has suspended Rs 1400 crore deal of Amazon India with Future Coupons Limited -9:16

Updated : Dec 17, 2021

CCI suspends Amazon-Future Coupons deal; imposes penalty of Rs 202 cr

The CCI pointed out in its order that the failure to disclose the actual purpose of the Amazon–FCPL deal in 2019 has amounted to violations.

Delhi recorded a 24-hour average air quality index (AQI) of 330 on Sunday compared to 437 the previous day as emissions from farm fires in Haryana and Punjab dropped significantly. The AQI was around 471 on Friday, the worst this season so far.

Updated : Nov 15, 2021

Lame excuses, come back with exact figures': Supreme Court tells Delhi govt

In an affidavit filed in Supreme Court on Monday, the Delhi government said it is "ready to take steps like complete lockdown to control the local emissions. However, such a step would be meaningful if it is implemented across the NCR & neighbouring states."